EX-12.1 2 lptex121-33116.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)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2016
 
 
 
 
 
 Earnings before fixed charges:
 
 
 
Income from operations before income taxes and equity in earnings of unconsolidated subsidiaries and after distribution of earnings from unconsolidated subsidiaries
 
 
$
81,948

Add:
Interest expense
 
 
30,410

 
Depreciation expense on capitalized interest
 
 
511

 
Amortization of deferred financing costs
 
 
1,002

 
 
 
 
 
 Earnings before fixed charges
 
 
$
113,871

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
30,410

 Amortization of deferred financing costs
 
 
1,002

 Capitalized interest
 
 
5,064

 
 
 
 
 
 Fixed charges
 
 
36,476

 
 
 
 
 
 Preferred unit distributions
 
 
118

 
 
 
 
 
 Combined fixed charges
 
 
$
36,594

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
3.12

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
3.11