EX-12.1 4 a07-5534_1ex12d1.htm EX-12.1

Exhibit 12.1

HRPT PROPERTIES TRUST

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

 

Year Ended December 31,

 

 

 

2006

 

2005

 

2004

 

2003

 

2002

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Income before equity in earnings and gains (losses) on equity transactions of equity investments

 

$

131,157

 

$

138,869

 

$

117,386

 

$

90,921

 

$

88,923

 

Fixed charges

 

166,229

 

143,663

 

118,212

 

101,144

 

89,417

 

Distributions from equity investments

 

5,387

 

22,646

 

24,572

 

27,404

 

27,195

 

Capitalized interest

 

(335

)

—

 

—

 

—

 

(3,057

)

Adjusted Earnings

 

$

302,438

 

$

305,178

 

$

260,170

 

$

219,469

 

$

202,478

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

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

 

$

165,894

 

$

143,663

 

$

118,212

 

$

101,144

 

$

86,360

 

Capitalized interest

 

335

 

—

 

—

 

—

 

3,057

 

Total Fixed Charges

 

$

166,229

 

$

143,663

 

$

118,212

 

$

101,144

 

$

89,417

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.8x

 

2.1x

 

2.2x

 

2.2x

 

2.3x