EX-12.1 4 a2202190zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


COMMONWEALTH REIT

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 
   Year Ended December 31,  
 
   2010   2009   2008   2007   2006  

Earnings:

                                
 

Income from continuing operations

   $ 79,751   $ 78,931   $ 61,731   $ 68,141   $ 199,475  
 

Equity in earnings and gains on equity transactions of investees

     (43,272 )   (6,546 )   —     —     (119,423 )
 

Fixed charges

     183,433     173,458     180,193     171,459     165,903  
 

Distributions from investees

     16,119     4,975     —     —     5,387  
 

Capitalized interest

     —     —     —     (489 )   (335 )
                       

Adjusted Earnings

   $ 236,031   $ 250,818   $ 241,924   $ 239,111   $ 251,007  
                       

Fixed Charges:

                                
 

Interest expense (including amortization of debt discounts, premiums and deferred financing fees)

   $ 183,433   $ 173,458   $ 180,193   $ 170,970   $ 165,568  
 

Capitalized interest

     —     —     —     489     335  
                       

Total Fixed Charges

   $ 183,433   $ 173,458   $ 180,193   $ 171,459   $ 165,903  
                       

Ratio of Earnings to Fixed Charges

     1.3x     1.4x     1.3x     1.4x     1.5x  
                       



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