EX-12.1 2 w64857exv12w1.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, 2008  
Earnings before fixed charges:
        
Income before allocation of minority interest and income from investments in unconsolidated subsidiaries
   $ 73,120  
Add: Interest expense
     77,431  
Depreciation expense on cap’d interest
     538  
Amortization of deferred financing costs
     2,315  
 
      
 
        
Earnings before fixed charges
   $ 153,404  
 
      
 
        
Fixed charges:
        
Interest expense
   $ 77,431  
Amortization of deferred financing charges
     2,315  
Capitalized interest
     12,573  
 
      
 
        
Fixed charges
     92,319  
 
      
 
        
Preferred share distributions
     —  
Preferred unit distributions
     10,506  
 
      
 
        
Combined fixed charges
   $ 102,825  
 
      
 
        
Ratio of earnings to fixed charges
     1.66  
 
      
 
        
Ratio of earnings to combined fixed charges
     1.49