EX-12.1 2 c06810exv12w1.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
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, 2010		  
Earnings before fixed charges:
        
Income before allocation of minority interest and income from investments in unconsolidated subsidiaries
   $ 114,350  
Add: Interest expense
     107,614  
Depreciation expense on cap’d interest
     1,255  
Amortization of deferred financing costs
     4,854  
 
      
 
        
Earnings before fixed charges
   $ 228,073  
 
      
 
        
Fixed charges:
        
Interest expense
   $ 107,614  
Amortization of deferred financing charges
     4,854  
Capitalized interest
     589  
 
      
 
        
Fixed charges
     113,057  
 
      
 
        
Preferred share distributions
     —  
Preferred unit distributions
     15,759  
 
      
 
        
Combined fixed charges
   $ 128,816  
 
      
 
        
Ratio of earnings to fixed charges
     2.02  
 
      
 
        
Ratio of earnings to combined fixed charges
     1.77