EX-12.1 2 lryex121-33112.htm EXHIBIT 12.1 LRY Ex. 12.1 - 3.31.12


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, 2012
 
 
 
 
 
 Earnings before fixed charges:
 
 
 
 Income before allocation of noncontrolling interest
 
 
 
 and income from investments in unconsolidated
 
 
 
 subsidiaries
 
 
$
38,593

 Add:
Interest expense
 
 
27,340

 
Depreciation expense on capitalized interest
 
 
405

 
Amortization of deferred
 
 
 
 
  financing costs
 
 
1,136

 
 
 
 
 
 Earnings before fixed charges
 
 
$
67,474

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
27,340

 Amortization of deferred financing charges
 
 
1,136

 Capitalized interest
 
 
1,664

 
 
 
 
 
 Fixed charges
 
 
30,140

 
 
 
 
 
 Preferred unit distributions
 
 
5,035

 
 
 
 
 
 Combined fixed charges
 
 
$
35,175

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
2.24

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
1.92