EX-12.1 2 a07-10797_1ex12d1.htm EX-12.1

Exhibit 12.1

HRPT PROPERTIES TRUST
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)

 

 

Three Months Ended
March 31,

 

Year Ended December 31,

 

 

 

2007

 

2006

 

2006

 

2005

 

2004

 

2003

 

2002

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

33,148

 

$

30,412

 

$

131,157

 

$

138,869

 

$

117,386

 

$

90,921

 

$

88,923

 

Fixed charges

 

40,497

 

41,294

 

166,229

 

143,663

 

118,212

 

101,144

 

89,417

 

Distributions from equity investments

 

—

 

5,387

 

5,387

 

22,646

 

24,572

 

27,404

 

27,195

 

Capitalized interest

 

(226

)

—

 

(335

)

—

 

—

 

—

 

(3,057

)

Adjusted Earnings

 

$

73,419

 

$

77,093

 

$

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)

 

$

40,271

 

$

41,294

 

$

165,894

 

$

143,663

 

$

118,212

 

$

101,144

 

$

86,360

 

Capitalized interest

 

226

 

—

 

335

 

—

 

—

 

—

 

3,057

 

Total Fixed Charges

 

$

40,497

 

$

41,294

 

$

166,229

 

$

143,663

 

$

118,212

 

$

101,144

 

$

89,417

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.8x

 

1.9x

 

1.8x

 

2.1x

 

2.2x

 

2.2x

 

2.3x