EX-12.1 2 lryex121-93012.htm EXHIBIT 12.1 LRY Ex. 12.1 - 9.30.12


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)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2012
 
 
 
 
 
 Earnings before fixed charges:
 
 
 
 Income before allocation of noncontrolling interest
 
 
 
 and income from investments in unconsolidated
 
 
 
 subsidiaries
 
 
$
110,593

 Add:
Interest expense
 
 
86,306

 
Depreciation expense on capitalized interest
 
 
1,208

 
Amortization of deferred
 
 
 
 
  financing costs
 
 
3,586

 
 
 
 
 
 Earnings before fixed charges
 
 
$
201,693

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
86,306

 Amortization of deferred financing charges
 
 
3,586

 Capitalized interest
 
 
6,672

 
 
 
 
 
 Fixed charges
 
 
96,564

 
 
 
 
 
 Preferred unit distributions
 
 
8,690

 
 
 
 
 
 Combined fixed charges
 
 
$
105,254

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
2.09

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
1.92