EX-12.1 2 w73990exv12w1.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)
         
    Three months ended  
    March 31, 2009  
Earnings before fixed charges:
        
Income before allocation of minority interest and income from investments in unconsolidated subsidiaries
   $ 46,816  
Add: Interest expense
     37,210  
Depreciation expense on cap’d interest
     310  
Amortization of deferred financing costs
     1,219  
 
      
 
        
Earnings before fixed charges
   $ 85,555  
 
      
 
        
Fixed charges:
        
Interest expense
   $ 37,210  
Amortization of deferred financing charges
     1,219  
Capitalized interest
     3,028  
 
      
 
        
Fixed charges
     41,457  
 
      
 
        
Preferred share distributions
     —  
Preferred unit distributions
     5,253  
 
      
 
        
Combined fixed charges
   $ 46,710  
 
      
 
        
Ratio of earnings to fixed charges
     2.06  
 
      
 
        
Ratio of earnings to combined fixed charges
     1.83