EX-12.1 2 c00337exv12w1.htm EXHIBIT 12.1 Exhibit 12.1
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)
         
    Three months ended March 31, 2010  
 
        
Earnings before fixed charges:
        
Income before allocation of noncontrolling interest and income from investments in unconsolidated subsidiaries
   $ 34,150  
Add: Interest expense
     37,321  
Depreciation expense on cap’d interest
     406  
Amortization of deferred financing costs
     1,316  
 
      
 
        
Earnings before fixed charges
   $ 73,193  
 
      
 
        
Fixed charges:
        
Interest expense
   $ 37,321  
Amortization of deferred financing charges
     1,316  
Capitalized interest
     166  
 
      
 
        
Fixed charges
     38,803  
 
      
 
        
Preferred share distributions
     —  
Preferred unit distributions
     5,253  
 
      
 
        
Combined fixed charges
   $ 44,056  
 
      
 
        
Ratio of earnings to fixed charges
     1.89  
 
      
 
        
Ratio of earnings to combined fixed charges
     1.66