EX-12.1 4 ex12-1.txt Exhibit 12.1
HRPT PROPERTIES TRUST COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (dollars in thousands) Year Ended December 31, --------------------------------------------------------------------------- 2001 2000 (1) 1999 (1) 1998 1997 --------------------------------------------------------------------------- Earnings: Income before equity in earnings (loss) of equity investments and extraordinary item $89,659 $110,086 $116,638 $136,756 $97,230 Fixed charges 91,305 104,337 91,420 66,612 38,703 Distributions from equity investments 26,651 30,294 18,606 10,320 9,640 Capitalized interest (787) (1,680) (1,488) (447) (165) --------------------------------------------------------------------------- Adjusted Earnings $206,828 $243,037 $225,176 $213,241 $145,408 =========================================================================== Fixed Charges: Interest expense $87,075 $100,074 $87,470 $64,326 $36,766 Amortization of deferred financing costs 3,443 2,583 2,462 1,839 1,772 Capitalized interest 787 1,680 1,488 447 165 --------------------------------------------------------------------------- Total Fixed Charges $91,305 $104,337 $91,420 $66,612 $38,703 =========================================================================== Ratio of Earnings to Fixed Charges 2.3x 2.3x 2.5x 3.2x 3.8x =========================================================================== (1) Reclassifications have been made to the prior years' financial statements to conform to the current year's presentation.