EX-12.2 5 ex12-2.txt
Exhibit 12.2 HRPT PROPERTIES TRUST COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS (dollars in thousands) Six Months Ended June 30, Year Ended December 31, --------------------------- ---------------------------------------------------------------- 2002 2001 2001 2000 1999 1998 1997 --------------------------- ---------------------------------------------------------------- Earnings: Income before equity in earnings (loss) of equity investments and extraordinary item $ 43,683 $ 47,311 $ 89,659 $ 110,086 $ 116,638 $ 136,756 $ 97,230 Fixed charges before preferred distributions 44,602 47,191 91,305 104,337 91,420 66,612 38,703 Distributions from equity investments 13,493 13,286 26,651 30,294 18,606 10,320 9,640 Capitalized interest (1,443) (523) (787) (1,680) (1,488) (447) (165) --------- --------- --------- --------- --------- --------- --------- Adjusted Earnings $ 100,335 $ 107,265 $ 206,828 $ 243,037 $ 225,176 $ 213,241 $ 145,408 ========= ========= ========= ========= ========= ========= ========= Fixed Charges: Interest expense $ 41,297 $ 45,128 $ 87,075 $ 100,074 $ 87,470 $ 64,326 $ 36,766 Amortization of deferred financing costs 1,862 1,540 3,443 2,583 2,462 1,839 1,772 Capitalized interest 1,443 523 787 1,680 1,488 447 165 Preferred distributions 9,875 6,967 16,842 -- -- -- -- --------- --------- --------- --------- --------- --------- --------- Total Fixed Charges $ 54,477 $ 54,158 $ 108,147 $ 104,337 $ 91,420 $ 66,612 $ 38,703 ========= ========= ========= ========= ========= ========= ========= Ratio of Earnings to Combined Fixed Charges and Preferred Distributions 1.8x 2.0x 1.9x 2.3x 2.5x 3.2x 3.8x ========= ========= ========= ========= ========= ========= =========