Three months ended March 31, | |||||||
2018 | 2017 | ||||||
Earnings: | |||||||
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests | $ | 21,491 | $ | 21,196 | |||
Add: | |||||||
Distributed income of unconsolidated joint ventures | 2,198 | 2,473 | |||||
Amortization of capitalized interest | 192 | 170 | |||||
Interest expense | 15,800 | 16,487 | |||||
Portion of rent expense - interest factor | 599 | 609 | |||||
Total earnings | 40,280 | 40,935 | |||||
Fixed charges: | |||||||
Interest expense | 15,800 | 16,487 | |||||
Capitalized interest and capitalized amortization of debt issue costs | 73 | 520 | |||||
Portion of rent expense - interest factor | 599 | 609 | |||||
Total fixed charges | $ | 16,472 | $ | 17,616 | |||
Ratio of earnings to fixed charges | 2.4 | 2.3 | |||||
Earnings: | |||||||
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests | $ | 21,491 | $ | 21,196 | |||
Add: | |||||||
Distributed income of unconsolidated joint ventures | 2,198 | 2,473 | |||||
Amortization of capitalized interest | 192 | 170 | |||||
Interest expense | 15,800 | 16,487 | |||||
Portion of rent expense - interest factor | 599 | 609 | |||||
Total earnings | 40,280 | 40,935 | |||||
Fixed charges and preferred unit distributions: | |||||||
Interest expense | 15,800 | 16,487 | |||||
Capitalized interest and capitalized amortization of debt issue costs | 73 | 520 | |||||
Portion of rent expense - interest factor | 599 | 609 | |||||
Preferred unit distributions | — | — | |||||
Total combined fixed charges and preferred unit distributions | $ | 16,472 | $ | 17,616 | |||
Ratio of earnings to combined fixed charges and preferred unit distributions | 2.4 | 2.3 |