Exhibit 12.1
Alexander’s, Inc.
Ratios of Earnings to Fixed Charges
| Year Ended 12/31 | ||||||||||||||||||||
| 2007 | 2008 | 2009 | 2010 | 2011 | ||||||||||||||||
| Earnings: |
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| Pretax income from continuing operations |
$ | 115,509 | $ | 77,236 | $ | 96,006 | $ | 64,804 | $ | 80,941 | ||||||||||
| Fixed charges |
70,151 | 73,323 | 61,192 | 59,908 | 52,926 | |||||||||||||||
| Capitalized interest |
(4,567 | ) | (10,584 | ) | (3,452 | ) | (1,269 | ) | — | |||||||||||
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| Total earnings (1) |
$ | 181,093 | $ | 139,975 | $ | 153,746 | $ | 123,443 | $ | 133,867 | ||||||||||
| Fixed charges (2): |
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| Interest and debt expense |
$ | 65,322 | $ | 62,474 | $ | 57,473 | $ | 58,372 | $ | 52,659 | ||||||||||
| 1/3 of rent expense - interest factor (3) |
262 | 265 | 267 | 267 | 267 | |||||||||||||||
| Capitalized interest |
4,567 | 10,584 | 3,452 | 1,269 | — | |||||||||||||||
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| Total fixed charges (4) |
$ | 70,151 | $ | 73,323 | $ | 61,192 | $ | 59,908 | $ | 52,926 | ||||||||||
| Ratio of earnings to fixed charges |
2.58 | 1.91 | 2.51 | 2.06 | 2.53 | |||||||||||||||
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| (1) | For purposes of the calculation, earnings represents pretax income from continuing operations, plus fixed charges, less capitalized interest. |
| (2) | There were no preference securities outstanding during the periods shown. |
| (3) | This is the portion of operating lease rental expense deemed to represent the interest factor. |
| (4) | For purposes of this calculation, fixed charges represent interest and debt expense from continuing operations, including amortization of deferred debt issuance costs, plus the portion of operating lease rental expense that management considers representative of the interest factor, plus capitalized interest |