Exhibit 12
Statement re: Calculation of Ratios of Earnings to
Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
Nine Months Ended September 30, 2006
Year Ended December 31, 2005
Year Ended December 31, 2004
Year Ended December 31, 2003
Year Ended December 31, 2002
Year Ended December 31, 2001
Net income from continuing operations less preferred dividends
$
51,679
93,422
107,121
111,246
117,570
176,261
Preferred dividends
41,193
46,479
33,777
37,321
45,053
52,442
Minority interest in earnings of common unitholders
5,314
9,392
11,232
12,061
12,594
24,523
Interest expense
133,288
116,716
107,158
98,325
85,697
81,767
Earnings before fixed charges
231,474
266,009
259,288
258,953
260,914
334,993
Interest costs capitalized
24,567
9,510
5,961
6,734
13,529
25,859
Total fixed charges
157,855
126,226
113,119
105,059
99,226
107,626
Total fixed charges and preferred dividends
199,048
172,705
146,896
142,380
144,279
160,068
Ratio of Earnings to Fixed Charges
1.47
2.11
2.29
2.46
2.63
3.11
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
1.16
1.54
1.77
1.82
1.81
2.09