EX-12.1 2 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS Statement of Computation of Ratio of Earnings

EXHIBIT 12.1

DUKE REALTY CORPORATION

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS

(in thousands, except ratios)

 

     Six Months
Ended June 30, 2009		  

Income from continuing operations, less preferred dividends

    $ (13,715 ) 

Preferred dividends

      36,726   

Interest expense

      104,073   
        

Earnings before fixed charges

    $ 127,084   
        

Interest expense

    $ 104,073   

Interest costs capitalized

      14,371   
        

Total fixed charges

    $ 118,444   
        

Preferred dividends

      36,726   
        

Total fixed charges and preferred dividends

    $ 155,170   
        

Ratio of earnings to fixed charges

      1.07   
        

Ratio of earnings to combined fixed charges and preferred dividends

      N/A   
        

N/A – The ratio is less than 1.0; deficit of $28.1 million exists for the six months ended June 30, 2009. The calculation of earnings includes $166.7 million of non-cash depreciation expense.