EX-12.1 3 w46378ex12-1.txt RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12.1 - STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES LIBERTY PROPERTY LIMITED PARTNERSHIP
YEAR ENDED DECEMBER 31, ------------------------------------------------------------------- 2000 1999 1998 1997 1996 -------- -------- -------- -------- ------- Earnings before fixed charges: Income before extraordinary item $181,583 $155,993 $116,677 $ 68,969 $37,631 Add: Interest expense 104,229 94,712 74,155 46,521 33,967 Depreciation expense on cap'd interest 1,809 1,396 1,001 650 502 Amortization of deferred financing costs 4,066 4,951 4,462 4,448 4,561 -------- -------- -------- -------- ------- Earnings before fixed charges $291,687 $257,052 $196,295 $120,588 $76,661 ======== ======== ======== ======== ======= Fixed charges: Interest expense 104,229 94,712 74,155 46,521 33,967 Amortization of deferred financing charges 4,066 4,951 4,462 4,448 4,561 Capitalized interest 17,784 15,288 16,317 11,802 7,708 -------- -------- -------- -------- ------- Fixed charges $126,079 $114,951 $ 94,934 $ 62,771 $46,236 -------- -------- -------- -------- ------- Ratio of earnings to fixed charges 2.31 2.24 2.07 1.92 1.66 ======== ======== ======== ======== =======
Certain amounts from prior periods have been restated to conform to current-year presentation.