EX-12.1 3 lptex121-93015.htm EXHIBIT 12.1 Exhibit


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, 2015
 
 
 
 
 
 Earnings before fixed charges:
 
 
 
Income from continuing operations before income taxes and equity in (loss) earnings of unconsolidated subsidiaries and after distribution of earnings from unconsolidated subsidiaries
 
 
$
189,476

Add:
Interest expense
 
 
100,046

 
Depreciation expense on capitalized interest
 
 
1,461

 
Amortization of deferred financing costs
 
 
3,249

 
 
 
 
 
 Earnings before fixed charges
 
 
$
294,232

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
100,046

 Amortization of deferred financing costs
 
 
3,249

 Capitalized interest
 
 
12,007

 
 
 
 
 
 Fixed charges
 
 
115,302

 
 
 
 
 
 Preferred unit distributions
 
 
354

 
 
 
 
 
 Combined fixed charges
 
 
$
115,656

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
2.55

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
2.54