EX-12.1 8 a2199307zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

 

GOVERNMENT PROPERTIES INCOME TRUST

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands except ratios)

 

 

 

Three Months Ended
March 31,

 

Twelve Months Ended
December 31,

 

 

 

2010

 

2009

 

2008

 

2007

 

2006

 

2005

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

 

$

6,850

 

$

25,981

 

$

31,807

 

$

32,099

 

$

30,510

 

$

31,274

 

Total Fixed Charges

 

1,627

 

5,690

 

3,599

 

3,522

 

3,520

 

3,868

 

Earnings

 

$

8,477

 

$

31,671

 

$

35,406

 

$

35,621

 

$

34,030

 

$

35,142

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Principal Payments

 

$

96

 

$

134

 

$

3,458

 

$

3,163

 

$

2,962

 

$

2,772

 

Interest Expense

 

999

 

4,005

 

141

 

359

 

558

 

1,096

 

Amortization of Mark to Market

 

(36

)

—

 

—

 

—

 

—

 

—

 

Amortization of Deferred Finance Fees

 

567

 

1,551

 

—

 

—

 

—

 

—

 

Preferred Stock Dividends

 

—

 

—

 

—

 

—

 

—

 

—

 

Total Fixed Charges

 

$

1,626

 

$

5,690

 

$

3,599

 

$

3,522

 

$

3,520

 

$

3,868

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges and Preferred Dividends

 

5.2x

 

5.6x

 

9.8x

 

10.1x

 

9.7x

 

9.1x