EX-12.1 2 lryex121-93013.htm EXHIBIT 12.1 LRY Ex. 12.1 - 9.30.13


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)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 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
 
 
$
101,271

 Add:
Interest expense
 
 
98,203

 
Depreciation expense on capitalized interest
 
 
1,474

 
Amortization of deferred financing costs
 
 
2,938

 
 
 
 
 
 Earnings before fixed charges
 
 
$
203,886

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
98,203

 Amortization of deferred financing costs
 
 
2,938

 Capitalized interest
 
 
7,762

 
 
 
 
 
 Fixed charges
 
 
108,903

 
 
 
 
 
 Preferred unit distributions
 
 
2,001

 
 
 
 
 
 Combined fixed charges
 
 
$
110,904

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
1.87

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
1.84