EX-12.1 2 lryex121.htm EXHIBIT-12.1 LRY Ex. 12.1


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, 2011
 
 
 
 
 
 Earnings before fixed charges:
 
 
 
 Income before allocation of noncontrolling interest
 
 
 
 and income from investments in unconsolidated
 
 
 
 subsidiaries
 
 
$
115,393

 Add:
Interest expense
 
 
92,423

 
Depreciation expense on capitalized interest
 
 
1,222

 
Amortization of deferred
 
 
 
 
  financing costs
 
 
3,931

 
 
 
 
 
 Earnings before fixed charges
 
 
$
212,969

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
92,423

 Amortization of deferred financing charges
 
 
3,931

 Capitalized interest
 
 
1,766

 
 
 
 
 
 Fixed charges
 
 
98,120

 
 
 
 
 
 Preferred unit distributions
 
 
15,759

 
 
 
 
 
 Combined fixed charges
 
 
$
113,879

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
2.17

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
1.87