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Mills Limited Partnership, et al. – ‘10-K’ for 12/31/04 – EX-12.2

On:  Thursday, 3/31/05, at 5:22pm ET   ·   For:  12/31/04   ·   Accession #:  1104659-5-14444   ·   File #s:  0-50694, 1-12994

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 3/31/05  Mills Limited Partnership         10-K       12/31/04   14:8.3M                                   Merrill Corp-MD/FA
          Mills Corp

Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   3.34M 
 2: EX-10.47    Material Contract                                   HTML    121K 
 3: EX-10.49    Material Contract                                   HTML   1.35M 
 4: EX-10.50    Material Contract                                   HTML     38K 
 5: EX-12.1     Statement re: Computation of Ratios                 HTML     49K 
 6: EX-12.2     Statement re: Computation of Ratios                 HTML     50K 
 7: EX-21       Subsidiaries of the Registrant                      HTML    159K 
 8: EX-23       Consent of Experts or Counsel                       HTML     10K 
 9: EX-31.1     Certification per Sarbanes-Oxley Act (Section 302)  HTML     14K 
10: EX-31.2     Certification per Sarbanes-Oxley Act (Section 302)  HTML     14K 
11: EX-31.3     Certification per Sarbanes-Oxley Act (Section 302)  HTML     15K 
12: EX-31.4     Certification per Sarbanes-Oxley Act (Section 302)  HTML     14K 
13: EX-32.1     Certification per Sarbanes-Oxley Act (Section 906)  HTML     11K 
14: EX-32.2     Certification per Sarbanes-Oxley Act (Section 906)  HTML     12K 


EX-12.2   —   Statement re: Computation of Ratios


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EXHIBIT 12.2

 

THE MILLS LIMITED PARTNERSHIP

COMPUTATION OF RATIO OF EARNINGS TO COMBINED

FIXED CHARGE AND PREFERRED STOCK DIVIDENDS

(In millions, except ratio data)

 

 

 

Year Ended December 31,

 

 

 

2004

 

2003

 

2002

 

2001

 

2000

 

 

 

 

 

(Restated)

 

(Restated)

 

(Restated)

 

(Restated)

 

Income before minority interest and discontinued operations

 

$

220.4

 

$

146.1

 

$

72.8

 

$

23.0

 

$

45.6

 

Add:

 

 

 

 

 

 

 

 

 

 

 

Loss on extinguishment debt

 

¾

 

0.6

 

1.3

 

16.6

 

3.1

 

Fixed charges

 

148.5

 

80.6

 

55.7

 

58.1

 

60.6

 

Amortization of capitalized interest

 

4.2

 

1.7

 

1.8

 

1.6

 

2.9

 

Distributed income of unconsolidated joint ventures

 

33.1

 

64.6

 

42.2

 

28.1

 

44.0

 

Deduct:

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of unconsolidated joint ventures

 

(15.4

)

(34.5

)

(24.0

)

(9.5

)

(11.7

)

 

 

$

390.8

 

$

259.1

 

$

149.8

 

$

117.9

 

$

144.5

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

148.5

 

$

80.6

 

$

55.7

 

$

58.1

 

$

60.6

 

Capitalized interest

 

56.8

 

48.0

 

34.3

 

21.3

 

16.1

 

Loss on extinguishment of debt

 

 

 

0.6

 

1.3

 

16.6

 

3.1

 

Series D preferred unit distributions

 

0.9

 

0.7

 

¾

 

¾

 

¾

 

Combined fixed charges

 

206.2

 

129.9

 

91.3

 

96.0

 

79.8

 

Preferred stock dividends *

 

43.9

 

27.8

 

2.6

 

¾

 

¾

 

Fixed charges and preferred dividends

 

$

250.1

 

$

157.7

 

$

93.9

 

$

96.0

 

$

79.8

 

Ratio of earnings to combined fixed charges

 

1.9

 

2.0

 

1.6

 

1.2

 

1.8

 

Ratio of earnings to combined fixed charges and preferred dividends

 

1.6

 

1.6

 

1.6

 

1.2

 

1.8

 

 


*                                         Dividends on the Series A Cumulative Convertible Preferred Stock were included in interest expense from issue date in 2001 through conversion date in 2003.

 



Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/31/0510-Q,  4,  8-K
For Period End:12/31/048-K,  NT 10-K
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