EX-12 2 lcifex12-2014ratioofearnin.htm EXHIBIT 12 LCIF EX 12 - 2014 RATIO OF EARNINGS


Exhibit 12

LEPERCQ CORPORATE INCOME FUND L.P.
and Consolidated Subsidiaries
For the years ended December 31,
($000's)
RATIO OF EARNINGS TO FIXED CHARGES

Earnings
 
2014
 
2013
 
2012
 
2011
 
2010
Income before provision for income taxes, equity in earnings (losses) of non-consolidated entities and discontinued operations
 
$
40,689

 
$
9,321

 
$
12,265

 
$
14,629

 
$
12,632

Interest expense
 
26,990

 
12,488

 
13,468

 
13,831

 
16,115

Amortization expense - debt cost
 
1,277

 
623

 
586

 
590

 
915

Cash received from joint ventures
 
15

 
—

 
—

 
—

 
—

Total
 
$
68,971

 
$
22,432

 
$
26,319

 
$
29,050

 
$
29,662

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
26,990

 
$
12,488

 
$
13,468

 
$
13,831

 
$
16,115

Amortization expense - debt cost
 
1,277

 
623

 
586

 
590

 
915

Capitalized interest expense
 
60

 
46

 
49

 
748

 
—

Total
 
$
28,327

 
$
13,157

 
$
14,103

 
$
15,169

 
$
17,030

 
 
 
 
 
 
 
 
 
 
 
Ratio
 
2.43

 
1.70

 
1.87

 
1.92

 
1.74