EX-12.2 5 exh12-2.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, ------------------------- ------------------------------------------------------------------ 2002 2001(1) 2001(1) 2000(1) 1999(1) 1998(1) 1997(1) ------------ ------------ ------------- ------------- ------------ ------------ ------------ Earnings: Income before equity in earnings (loss) of equity investments and extraordinary item $66,221 $68,430 $89,659 $110,086 $116,638 $136,756 $97,230 Fixed charges before preferred distributions 67,337 69,257 91,305 104,337 91,420 66,612 38,703 Distributions from equity investments 20,344 19,968 26,651 30,294 18,606 10,320 9,640 Capitalized interest (2,832) (603) (787) (1,680) (1,488) (447) (165) ------------ ------------ ------------- ------------- ------------ ------------ ------------ Adjusted Earnings $151,070 $157,052 $206,828 $243,037 $225,176 $213,241 $145,408 ============ ============ ============= ============= ============ ============ ============ Fixed Charges: Interest expense (including amortization of note discounts and deferred financing fees) $64,505 $68,654 $90,518 $102,657 $89,932 $66,165 $38,538 Capitalized interest 2,832 603 787 1,680 1,488 447 165 Preferred distributions 16,125 11,905 16,842 -- -- -- -- ------------ ------------ ------------- ------------- ------------ ------------ ------------ Total Fixed Charges $83,462 $81,162 $108,147 $104,337 $91,420 $66,612 $38,703 ============ ============ ============= ============= ============ ============ ============ Ratio of Earnings to Combined Fixed Charges and Preferred Distributions 1.8x 1.9x 1.9x 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.