EX-12.1 2 c92067exv12w1.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES Exhibit 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, 2009  
 
        
Earnings before fixed charges:
        
Income before allocation of minority interest and income from investments in unconsolidated subsidiaries
   $ 128,641  
Add: Interest expense
     107,710  
Depreciation expense on cap’d interest
     1,119  
Amortization of deferred financing costs
     3,754  
 
      
 
        
Earnings before fixed charges
   $ 241,224  
 
      
 
        
Fixed charges:
        
Interest expense
   $ 107,710  
Amortization of deferred financing charges
     3,754  
Capitalized interest
     7,349  
 
      
 
        
Fixed charges
     118,813  
 
      
 
        
Preferred share distributions
     —  
Preferred unit distributions
     15,759  
 
      
 
        
Combined fixed charges
   $ 134,572  
 
      
 
        
Ratio of earnings to fixed charges
     2.03  
 
      
 
        
Ratio of earnings to combined fixed charges
     1.79