EX-12.2 3 exh12_2.htm STATEMENT RE COMPUTATION OF RATIOS exh12_2.htm

 
Exhibit 12.2
 


HIGHWOODS REALTY LIMITED PARTNERSHIP
 
RATIO OF EARNINGS TO FIXED CHARGES AND
 
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
 
PREFERRED UNIT DISTRIBUTIONS


   
Years Ended December 31,
  
   
2009
  
2008
  
2007
  
2006
  
2005
  
Earnings:
                                
Income from continuing operations before equity in earnings of unconsolidated affiliates
  
$
32,389
  
$
4,548
  
$
38,992
  
$
26,046
  
$
13,830
  
Fixed charges
    
93,035
    
108,271
    
111,397
    
106,540
    
110,238
  
Capitalized interest
    
(4,555
)
  
(8,312
)
  
(9,743
)
  
(5,002
)
  
(2,900
)
Distributions of earnings from unconsolidated affiliates
    
4,103
    
5,978
    
4,271
    
7,335
    
8,516
  
Total earnings
  
$
124,972
  
$
110,485
  
$
144,917
  
$
134,919
  
$
129,684
  
                                 
Fixed charges and Preferred Unit distributions:
                                
Contractual interest expense
  
$
81,982
  
$
92,858
  
$
93,894
  
$
93,598
  
$
97,431
  
Amortization of deferred financing costs
    
2,760
    
2,716
    
2,415
    
2,375
    
3,372
  
Financing obligations interest expense
    
2,130
    
2,918
    
3,930
    
4,162
    
5,032
  
Capitalized interest
    
4,555
    
8,312
    
9,743
    
5,002
    
2,900
  
Interest component of rental expense
    
1,608
    
1,467
    
1,415
    
1,403
    
1,503
  
Total fixed charges
    
93,035
    
108,271
    
111,397
    
106,540
    
110,238
  
Preferred Unit distributions
    
6,708
    
9,804
    
13,477
    
17,063
    
27,238
  
Total fixed charges and Preferred Unit distributions
  
$
99,743
  
$
118,075
  
$
124,874
  
$
123,603
  
$
137,476
  
                                 
Ratio of earnings to fixed charges
    
1.34
    
1.02
    
1.30
    
1.27
    
1.18
  
                                 
Ratio of earnings to combined fixed charges and Preferred Unit distributions
    
1.25
    
0.94
    
1.16
    
1.09
    
0.94