EX-12.1 2 lryex121-63013.htm EXHIBIT 12.1 LRY Ex. 12.1 - 6.30.13


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)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2013
 
 
 
 
 
 Earnings before fixed charges:
 
 
 
Income from continuing operations before equity in earnings of unconsolidated subsidiaries and after distribution of earnings from unconsolidated subsidiaries
 
 
$
69,943

 Add:
Interest expense
 
 
61,780

 
Depreciation expense on capitalized interest
 
 
871

 
Amortization of deferred financing costs
 
 
1,949

 
 
 
 
 
 Earnings before fixed charges
 
 
$
134,543

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
61,780

 Amortization of deferred financing costs
 
 
1,949

 Capitalized interest
 
 
5,697

 
 
 
 
 
 Fixed charges
 
 
69,426

 
 
 
 
 
 Preferred unit distributions
 
 
1,883

 
 
 
 
 
 Combined fixed charges
 
 
$
71,309

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
1.94

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
1.89