EX-12.2 3 hiw12312014ex122.htm EXHIBIT 12.2 HIW 12.31.2014 EX.12.2


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


 
 
 
 
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before equity in earnings of unconsolidated affiliates
 
$
113,761

 
$
60,459

 
$
35,278

 
$
26,007

 
$
51,304

Fixed charges
 
94,614

 
98,240

 
98,647

 
97,535

 
95,894

Capitalized interest
 
(5,310
)
 
(2,731
)
 
(1,031
)
 
(589
)
 
(1,419
)
Distributions of earnings from unconsolidated affiliates
 
2,687

 
3,965

 
4,592

 
5,005

 
4,377

Total earnings
 
$
205,752

 
$
159,933

 
$
137,486

 
$
127,958

 
$
150,156

 
 
 
 
 
 
 
 
 
 
 
Fixed charges and Preferred Unit distributions:
 
 
 
 
 
 
 
 
 
 
Contractual interest expense
 
$
82,287

 
$
88,838

 
$
92,838

 
$
91,458

 
$
87,409

Amortization of deferred financing costs
 
3,082

 
3,802

 
3,685

 
3,312

 
3,385

Financing obligations interest expense/(income)
 
483

 
63

 
(409
)
 
740

 
2,157

Capitalized interest
 
5,310

 
2,731

 
1,031

 
589

 
1,419

Interest component of rental expense
 
3,452

 
2,806

 
1,502

 
1,436

 
1,524

Total fixed charges
 
94,614

 
98,240

 
98,647

 
97,535

 
95,894

Preferred Unit distributions
 
2,507

 
2,508

 
2,508

 
4,553

 
6,708

Total fixed charges and Preferred Unit distributions
 
$
97,121

 
$
100,748

 
$
101,155

 
$
102,088

 
$
102,602

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
2.17

 
1.63

 
1.39

 
1.31

 
1.57

Ratio of earnings to combined fixed charges and Preferred Unit distributions
 
2.12

 
1.59

 
1.36

 
1.25

 
1.46