EX-12 7 ex12-2.htm EX12-2.HTM Prepared and filed by St Ives Burrups
Brandywine Operating Partnership, L.P.    
Computation of Ratio of Earnings to Fixed Charges    
(in thousands)    
                           
                For the nine months
ended September 30,
    For the years ended December 31,    
             

   
   
                2005     2004     2004     2003     2002     2001     2000    
             

   
   
   
   
   
   
   
Earnings before fixed charges:                                            
Add:                                            
      Income from continuing operations (a) $ 33,331   $ 51,836   $ 60,281   $ 85,126   $ 57,018   $ 27,222   $ 47,753    
      Fixed charges – per below   62,236     39,974     61,062     62,407     69,881     76,558     77,535    
Less:                                            
      Income from equity method investments not
   distributed
                          (518 )  
      Capitalized interest   (6,902 )   (1,785 )   (3,030 )   (1,503 )   (2,949 )   (5,178 )   (8,182 )  
             

 

 

 

 

 

 

   
Earnings before fixed charges $ 88,665   $ 90,025   $ 118,313   $ 146,030   $ 123,950   $ 98,602   $ 116,588    
             

 

 

 

 

 

 

   
Fixed charges:                                            
Interest expense (including amortization) $ 53,366   $ 35,526   $ 55,061   $ 57,835   $ 63,522   $ 67,496   $ 64,746    
Capitalized interest   6,902     1,785     3,030     1,503     2,949     5,178     8,182    
Proportionate share of interest for unconsolidated
   subsidiaries
  1,968     2,663     2,971     3,069     3,410     3,884     4,607    
             

 

 

 

 

 

 

   
      Total Fixed Charges $ 62,236   $ 39,974   $ 61,062   $ 62,407   $ 69,881   $ 76,558   $ 77,535    
             

 

 

 

 

 

 

   
Ratio of earnings to fixed charges   1.42     2.25     1.94     2.34     1.77     1.29     1.50    
             

 

 

 

 

 

 

   
                                                         
                                                         
(a)     Amounts for the nine months ended September 30, 2005 and 2004 and for the years ended December 31, 2004, 2003, 2002, 2001 and 2000 have been reclassified to present properties identified as held for sale consistent with the presentation for the period ended September 30, 2005. As a result, operations have been reclassified to discontinued operations from continuing operations for all periods presented.