EX-11.2 4 j8376_ex11d2.htm EX-11.2

EXHIBIT 11.2

 

DUKE REALTY LIMITED PARTNERSHIP
EARNINGS TO DEBT SERVICE CALCULATIONS
(in thousands)

 

 

 

DECEMBER 31,
2002

 

 

 

 

 

Net income from continuing operations less dividends on preferred equity

 

$

173,814

 

Loss on land and depreciated property sales

 

410

 

Recurring principal amortization

 

10,866

 

Interest expense (excludes amortization of deferred financing fees)

 

113,348

 

Earnings before debt service

 

298,438

 

 

 

 

 

Interest expense (excludes amortization of deferred financing fees)

 

$

113,348

 

Recurring principal amortization

 

10,866

 

Total debt service

 

124,214

 

 

 

 

 

Earnings To Debt Service Ratio

 

2.40