EX-12.1 2 w38004exv12w1.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

EXHIBIT 12.1 — STATEMENT RE: COMPUTATION OF RATIO
OF EARNINGS TO FIXED CHARGES
AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES
LIBERTY PROPERTY TRUST / LIBERTY PROPERTY LIMITED PARTNERSHIP
(Amounts in thousands except ratio amounts)
         
    Six months ended June 30, 2007  
Earnings before fixed charges:
        
Income before allocation of minority interest and income from investments in unconsolidated subsidiaries
   $ 83,153  
Add: Interest expense
     56,272  
Depreciation expense on cap’d interest
     2,560  
Amortization of deferred financing costs
     2,043  
 
      
 
        
Earnings before fixed charges
   $ 144,028  
 
      
 
        
Fixed charges:
        
Interest expense
   $ 56,272  
Amortization of deferred financing charges
     2,043  
Capitalized interest
     23,759  
 
      
 
        
Fixed charges
     82,074  
 
      
 
        
Preferred share distributions
     —  
Preferred unit distributions
     7,628  
 
      
 
        
Combined fixed charges
   $ 89,702  
 
      
 
        
Ratio of earnings to fixed charges
     1.75  
 
      
 
        
Ratio of earnings to combined fixed charges
     1.61