EX-12.2 4 ex12-2.txt Exhibit 12.2
HRPT PROPERTIES TRUST COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS (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 before preferred distributions 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 -- Preferred distributions 11,905 -- -- -- -- -- -- --------- --------- --------- --------- --------- --------- --------- Total Fixed Charges $ 81,162 $ 79,121 $ 104,337 $ 91,420 $ 66,612 $ 38,703 $ 23,279 ========= ========= ========= ========= ========= ========= ========= Ratio of Earnings to Combined Fixed Charges and Preferred Distributions 1.9x 2.2x 2.3x 2.5x 3.2x 3.8x 4.2x ========= ========= ========= ========= ========= ========= =========