EX-12.1 8 a14-18971_1ex12d1.htm EX-12.1

Exhibit 12.1

 

GOVERNMENT PROPERTIES INCOME TRUST

Computation of Ratio of Earnings to Fixed Charges

(in thousands except ratios)

 

 

 

Six Months
Ended June 30,

 

Year Ended December 31,

 

 

 

2014

 

2013

 

2012

 

2011

 

2010

 

2009

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income tax expense

 

$

36,618

 

$

55,308

 

$

48,903

 

$

42,255

 

$

24,018

 

$

22,284

 

Fixed Charges

 

9,685

 

16,831

 

16,892

 

12,057

 

7,351

 

5,556

 

Earnings

 

$

46,303

 

$

72,139

 

$

65,795

 

$

54,312

 

$

31,369

 

$

27,840

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

9,132

 

$

15,491

 

$

15,560

 

$

11,012

 

$

5,068

 

$

4,005

 

Net amortization of debt premiums and deferred financing fees

 

553

 

1,340

 

1,332

 

1,045

 

2,283

 

1,551

 

 

 

$

9,685

 

$

16,831

 

$

16,892

 

$

12,057

 

$

7,351

 

$

5,556

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges:

 

4.8x

 

4.3x

 

3.9x

 

4.5x

 

4.3x

 

5.0x