EX-12.1 3 ex12-1.txt Exhibit 12.1
HRPT PROPERTIES TRUST COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (dollars in thousands) Nine Months Ended September 30, Year Ended December 31, ----------------------- ------------------------------------------------------------------ 2001 2000 2000 1999 1998 1997 1996 ----------------------- ------------------------------------------------------------------ Earnings: Income before equity in earnings (loss) of equity investments and extraordinary item $ 67,980 $ 70,941 $ 109,486 $ 116,188 $ 136,756 $ 97,230 $ 64,701 Fixed charges 69,257 79,121 104,337 91,420 66,612 38,703 23,279 Distributions from equity investments 19,968 23,651 30,294 18,606 10,320 9,640 9,360 Capitalized interest (603) (1,330) (1,680) (1,488) (447) (165) -- --------- --------- --------- --------- --------- --------- --------- Adjusted Earnings $ 156,602 $ 172,383 $ 242,437 $ 224,726 $ 213,241 $ 145,408 $ 97,340 ========= ========= ========= ========= ========= ========= ========= Fixed Charges: Interest expense $ 66,164 $ 75,849 $ 100,074 $ 87,470 $ 64,326 $ 36,766 $ 22,545 Amortization of deferred financing costs 2,490 1,942 2,583 2,462 1,839 1,772 734 Capitalized interest 603 1,330 1,680 1,488 447 165 -- --------- --------- --------- --------- --------- --------- --------- Total Fixed Charges $ 69,257 $ 79,121 $ 104,337 $ 91,420 $ 66,612 $ 38,703 $ 23,279 ========= ========= ========= ========= ========= ========= ========= Ratio of Earnings to Fixed Charges 2.3x 2.2x 2.3x 2.5x 3.2x 3.8x 4.2x ========= ========= ========= ========= ========= ========= =========