EX-12.2 4 a07-18840_1ex12d2.htm EX-12.2

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,

 

 

 

2007

 

2006

 

2006

 

2005

 

2004

 

2003

 

2002

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

64,622

 

$

61,926

 

$

131,157

 

$

138,869

 

$

117,386

 

$

90,921

 

$

88,923

 

Fixed charges before preferred distributions

 

83,061

 

83,148

 

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

 

(489

)

—

 

(335

)

—

 

—

 

—

 

(3,057

)

Adjusted Earnings

 

$

147,194

 

$

150,461

 

$

302,438

 

$

305,178

 

$

260,170

 

$

219,469

 

$

202,478

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges and Preferred Distributions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

82,572

 

$

83,148

 

$

165,894

 

$

143,663

 

$

118,212

 

$

101,144

 

$

86,360

 

Capitalized interest

 

489

 

—

 

335

 

—

 

—

 

—

 

3,057

 

Preferred distributions

 

30,802

 

20,742

 

44,692

 

46,000

 

46,000

 

46,000

 

27,625

 

Combined Fixed Charges and Preferred Distributions

 

$

113,863

 

$

103,890

 

$

210,921

 

$

189,663

 

$

164,212

 

$

147,144

 

$

117,042

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Combined Fixed Charges and Preferred Distributions

 

1.3x

 

1.4x

 

1.4x

 

1.6x

 

1.6x

 

1.5x

 

1.7x