EX-12.1 8 a08-25384_1ex12d1.htm EX-12.1

Exhibit 12.1

 

HRPT PROPERTIES TRUST

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

 

 

Nine Months Ended
September 30,

 

Year Ended December 31,

 

 

 

2008

 

2007

 

2007 (1)

 

2006 (1)

 

2005 (1)

 

2004 (1)

 

2003 (1)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

65,149

 

$

73,915

 

$

94,320

 

$

221,910

 

$

127,213

 

$

138,942

 

$

95,210

 

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

 

—

 

—

 

—

 

(119,423

)

(26,115

)

(45,443

)

(23,525

)

Fixed charges

 

134,577

 

126,701

 

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

 

$

199,726

 

$

200,127

 

$

265,290

 

$

273,442

 

$

267,407

 

$

236,283

 

$

200,233

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

134,577

 

$

126,212

 

$

170,970

 

$

165,568

 

$

143,663

 

$

118,212

 

$

101,144

 

Capitalized interest

 

—

 

489

 

489

 

335

 

—

 

—

 

—

 

Total Fixed Charges

 

$

134,577

 

$

126,701

 

$

171,459

 

$

165,903

 

$

143,663

 

$

118,212

 

$

101,144

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.5x

 

1.6x

 

1.5x

 

1.6x

 

1.9x

 

2.0x

 

2.0x

 

 

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