EX-12.1 3 lptex121-3312017.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, 2017
 
 
 
 
 
 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
 
 
$
48,562

Add:
Interest expense
 
 
21,406

 
Depreciation expense on capitalized interest
 
 
514

 
Amortization of deferred financing costs
 
 
937

 
 
 
 
 
 Earnings before fixed charges
 
 
$
71,419

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
21,406

 Amortization of deferred financing costs
 
 
937

 Capitalized interest
 
 
4,982

 
 
 
 
 
 Fixed charges
 
 
27,325

 
 
 
 
 
 Preferred unit distributions
 
 
118

 
 
 
 
 
 Combined fixed charges
 
 
$
27,443

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
2.61

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
2.60