EX-12.1 3 w41911exv12w1.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)
         
    Nine months ended September 30, 2007  
Earnings before fixed charges:
        
Income before allocation of minority interest and income from investments in unconsolidated subsidiaries
   $ 119,126  
Add: Interest expense
     86,870  
     Depreciation expense on cap’d interest
     3,959  
     Amortization of deferred financing costs
     3,012  
 
      
 
        
Earnings before fixed charges
   $ 212,967  
 
      
 
        
Fixed charges:
        
Interest expense
   $ 86,870  
Amortization of deferred financing charges
     3,012  
Capitalized interest
     36,566  
 
      
 
        
Fixed charges
     126,448  
 
      
 
        
Preferred share distributions
     —  
Preferred unit distributions
     11,874  
 
      
 
        
Combined fixed charges
   $ 138,322  
 
      
 
        
Ratio of earnings to fixed charges
     1.68  
 
      
 
        
Ratio of earnings to combined fixed charges
     1.54