EX-12.1 2 w71520exv12w1.htm EX-12.1 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, 2008  
Earnings before fixed charges:
        
Income before allocation of minority interest and income from investments in unconsolidated subsidiaries
   $ 109,667  
Add: Interest expense
     114,888  
Depreciation expense on cap’d interest
     862  
Amortization of deferred financing costs
     3,448  
 
      
 
        
Earnings before fixed charges
   $ 228,865  
 
      
 
        
Fixed charges:
        
Interest expense
   $ 114,888  
Amortization of deferred financing charges
     3,448  
Capitalized interest
     16,793  
 
      
 
        
Fixed charges
     135,129  
 
      
 
        
Preferred share distributions
     —  
Preferred unit distributions
     15,759  
 
      
 
        
Combined fixed charges
   $ 150,888  
 
      
 
        
Ratio of earnings to fixed charges
     1.69  
 
      
 
        
Ratio of earnings to combined fixed charges
     1.52