EX-12.1 5 a10-17331_1ex12d1.htm EX-12.1

Exhibit 12.1

 

COMMONWEALTH REIT

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

 

 

Nine Months Ended
September 30,

 

Year Ended December 31,

 

 

 

2010

 

2009

 

2009

 

2008

 

2007

 

2006

 

2005

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

108,886

 

$

87,086

 

$

76,666

 

$

83,559

 

$

94,626

 

$

222,215

 

$

127,528

 

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

 

(41,451

)

(3,818

)

(6,546

)

—

 

—

 

(119,423

)

(26,115

)

Fixed charges

 

137,506

 

129,912

 

173,458

 

180,193

 

171,459

 

165,903

 

143,663

 

Distributions from equity investments

 

12,039

 

—

 

4,975

 

—

 

—

 

5,387

 

22,646

 

Capitalized interest

 

—

 

—

 

—

 

—

 

(489

)

(335

)

—

 

Adjusted Earnings

 

$

216,980

 

$

213,180

 

$

248,553

 

$

263,752

 

$

265,596

 

$

273,747

 

$

267,722

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

137,506

 

$

129,912

 

$

173,458

 

$

180,193

 

$

170,970

 

$

165,568

 

$

143,663

 

Capitalized interest

 

—

 

—

 

—

 

—

 

489

 

335

 

—

 

Total Fixed Charges

 

$

137,506

 

$

129,912

 

$

173,458

 

$

180,193

 

$

171,459

 

$

165,903

 

$

143,663

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.6x

 

1.6x

 

1.4x

 

1.5x

 

1.5x

 

1.7x

 

1.9x