EX-12.2 12 a08-18685_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,

 

 

 

2008

 

2007

 

2007 (1)

 

2006 (1)

 

2005 (1)

 

2004 (1)

 

2003 (1)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

43,422

 

$

50,734

 

$

92,314

 

$

219,998

 

$

125,485

 

$

137,283

 

$

93,562

 

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

 

 

 

 

(119,423

)

(26,115

)

(45,443

)

(23,525

)

Fixed charges before preferred distributions

 

89,423

 

82,797

 

171,459

 

165,903

 

143,663

 

118,212

 

101,144

 

Distributions from equity investments

 

 

 

 

5,387

 

22,646

 

24,572

 

27,404

 

Capitalized interest

 

 

(489

)

(489

)

(335

)

 

 

 

Adjusted Earnings

 

$

132,845

 

$

133,042

 

$

263,284

 

$

271,530

 

$

265,679

 

$

234,624

 

$

198,585

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges and Preferred Distributions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

89,423

 

$

82,308

 

$

170,970

 

$

165,568

 

$

143,663

 

$

118,212

 

$

101,144

 

Capitalized interest

 

 

489

 

489

 

335

 

 

 

 

Preferred distributions

 

25,334

 

30,802

 

60,572

 

44,692

 

46,000

 

46,000

 

46,000

 

Combined Fixed Charges and Preferred Distributions

 

$

114,757

 

$

113,599

 

$

232,031

 

$

210,595

 

$

189,663

 

$

164,212

 

$

147,144

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Combined Fixed Charges and Preferred Distributions

 

1.2x

 

1.2x

 

1.1x

 

1.3x

 

1.4x

 

1.4x

 

1.3x

 

 


(1)   Reclassifications have been made to the prior years’ financial statements to conform to the current year’s presentation.