EX-12 7 ex12-2.txt EXHIBIT 12.2 Exhibit 12.2
BRANDYWINE OPERATING PARTNERSHIP, L.P. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS) For the three For the years ended December 31, months ended --------------------------------------------------- March 31, 2004 2003 2002 2001 2000 1999 -------------- --------- --------- -------- --------- -------- EARNINGS BEFORE FIXED CHARGES: ADD: Income from continuing operations (a) $ 13,314 $ 84,621 $ 57,107 $ 28,244 $ 48,246 $ 56,755 Fixed charges - per below 13,581 62,407 69,881 76,558 77,535 73,584 LESS: Income from equity method investments not distributed - - - - (2,961) - Capitalized interest (396) (1,503) (2,949) (5,178) (8,182) (2,100) -------- --------- --------- -------- --------- --------- Earnings before fixed charges $ 26,499 $ 145,525 $ 124,039 $ 99,624 $ 114,638 $ 128,239 ======== ========= ========= ======== ========= ========= FIXED CHARGES: Interest expense (including amortization) $ 12,104 $ 57,835 $ 63,522 $ 67,496 $ 64,746 $ 69,800 Capitalized interest 396 1,503 2,949 5,178 8,182 2,100 Proportionate share of interest for unconsolidated subsidiaries 1,081 3,069 3,410 3,884 4,607 1,684 -------- --------- --------- -------- --------- --------- Total Fixed Charges 13,581 62,407 69,881 76,558 77,535 73,584 ======== ========= ========= ======== ========= ========= Ratio of earnings to fixed charges 1.95 2.33 1.78 1.30 1.48 1.74 ======== ========= ========= ======== ========= =========
(a) Amounts for the years ended December 31, 2003, 2002, 2001, 2000 and 1999 have been reclassified to present properties identified as held for sale consistent with the presentation for the period ended March 31, 2004. As a result, operations have been reclassified to discontinued operations from continuing operations for all periods presented.