EX-12.1 25 a08-11294_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,

 

 

 

2008

 

2007

 

2007

 

2006

 

2005

 

2004

 

2003

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

27,406

 

$

33,092

 

$

121,811

 

$

247,504

 

$

156,461

 

$

160,717

 

$

115,650

 

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

 

—

 

—

 

—

 

(119,423

)

(26,115

)

(45,443

)

(23,525

)

Fixed charges

 

45,224

 

40,497

 

172,060

 

166,229

 

143,663

 

118,212

 

101,144

 

Distributions from equity investments

 

—

 

—

 

—

 

5,387

 

22,646

 

24,572

 

27,404

 

Capitalized interest

 

—

 

(226

)

(489

)

(335

)

—

 

—

 

—

 

Adjusted Earnings

 

$

72,630

 

$

73,363

 

$

293,382

 

$

299,362

 

$

296,655

 

$

258,058

 

$

220,673

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

45,224

 

$

40,271

 

$

171,571

 

$

165,894

 

$

143,663

 

$

118,212

 

$

101,144

 

Capitalized interest

 

—

 

226

 

489

 

335

 

—

 

—

 

—

 

Total Fixed Charges

 

$

45,224

 

$

40,497

 

$

172,060

 

$

166,229

 

$

143,663

 

$

118,212

 

$

101,144

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.6x

 

1.8x

 

1.7x

 

1.8x

 

2.1x

 

2.2x

 

2.2x