EX-12.1 3 ex121lp.htm MACK-CALI REALTY LP - EXHIBIT 12.1 ex121lp.htm
 
 
 


Exhibit 12.1

MACK-CALI REALTY, L.P.
 CALCULATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 (DOLLAR AMOUNTS IN THOUSANDS)

Mack-Cali Realty, L.P.'s ratios of earnings to fixed charges for each of the five years ended December 31, 2014 were as follows:


 
For the Year Ended December 31,
 
2014
2013
2012
2011
2010
EARNINGS:
          
ADD:
          
Income (loss) from continuing operations before
          
noncontrolling interest and equity in
          
earnings from unconsolidated joint ventures
$   33,814
$ ( 87,359)
$  33,477
$  57,477
$  44,155
Fixed charges (see calculation below)
128,483
136,721
126,516
125,074
150,108
Amortization of capitalized interest
2,440
2,154
1,981
1,913
2,070
Distributed income of unconsolidated joint ventures
11,213
8,485
3,990
3,301
2,311
SUBTRACT:
          
Capitalized interest
(15,470)
(12,885)
(4,342)
(1,081)
(1,912)
TOTAL EARNINGS:
$ 160,480
$ 47,116
$ 161,622
$ 186,684
$ 196,732
FIXED CHARGES:
          
Interest expense (includes amortization of deferred financing costs)
$112,878
$ 123,701
$ 122,039
$ 123,858
$ 148,033
Capitalized interest
15,470
12,885
4,342
1,081
1,912
Interest portion (33 percent) of ground rents on land leases
135
135
135
135
163
TOTAL FIXED CHARGES:
$ 128,483
$ 136,721
$ 126,516
$ 125,074
$ 150,108
RATIO OF EARNINGS TO FIXED CHARGES
           1.2
           (a)
           1.3
           1.5
           1.3
   
 
      
(a)Deficiency of earnings to cover fixed charges for the year ended December 31, 2013
 
  
$ (89,605)