EX-12 3 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

WASHINGTON REAL ESTATE INVESTMENT TRUST

Computation of Ratio of Earnings to Fixed Charges

(In thousands)

 

     Q2 2009     Q2 2008     YTD 2009     YTD 2008  

Income from continuing operations

   $ 6,187      $ 3,756      $ 16,670      $ (43

Additions:

        

Fixed charges

        

Interest expense

     19,316        18,840        38,997        37,740   

Capitalized interest

     335        741        658        1,573   
                                
     19,651        19,581        39,655        39,313   

Deductions:

        

Capitalized interest

     (335     (741     (658     (1,573

Net income attributable to noncontrolling interests

     (52     (53     (101     (110
                                

Adjusted earnings

   $ 25,451      $ 22,543      $ 55,566      $ 37,587   
                                

Fixed Charges (from above)

   $ 19,651      $ 19,581      $ 39,655      $ 39,313   

Ratio of Earnings to Fixed Charges

     1.30        1.15        1.40        (a

 

(a)

Due to WRIT’s loss from continuing operations during YTD 2008, the coverage ratio was less than 1:1. WRIT needed to generate additional earnings of $1,726 to achieve a coverage ratio of 1:1. The loss in YTD 2008 included the impact of the loss on extinguishment of debt of $8,449.