EX-11.1 4 a04-3173_1ex11d1.htm EX-11.1

EXHIBIT 11.1

 

DUKE REALTY LIMITED PARTNERSHIP

EARNINGS TO FIXED CHARGES CALCULATION

(in thousands)

 

 

 

DECEMBER 31,
2003

 

 

 

 

 

Net income from continuing operations, less preferred distributions

 

$

163,638

 

Preferred distributions

 

39,225

 

Earnings from land and depreciated property dispositions

 

(15,774

)

Interest expense

 

129,160

 

Earnings before fixed charges

 

$

316,249

 

 

 

 

 

Interest expense

 

$

129,160

 

Preferred distributions

 

39,225

 

Interest costs capitalized

 

6,734

 

Total fixed charges

 

$

175,119

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred unit distributions

 

1.81

 

 

 

 

 

Ratio of earnings to fixed charges

 

2.33