EX-12.1 2 lptex121-9302017.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, 2017
 
 
 
 
 
 Earnings before fixed charges:
 
 
 
Income from operations before income taxes and equity in earnings of unconsolidated joint ventures and after distribution of earnings from unconsolidated joint ventures
 
 
$
162,812

Add:
Interest expense
 
 
64,534

 
Depreciation expense on capitalized interest
 
 
1,654

 
Amortization of deferred financing costs
 
 
2,811

 
 
 
 
 
 Earnings before fixed charges
 
 
$
231,811

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
64,534

 Amortization of deferred financing costs
 
 
2,811

 Capitalized interest
 
 
16,133

 
 
 
 
 
 Fixed charges
 
 
83,478

 
 
 
 
 
 Preferred unit distributions
 
 
354

 
 
 
 
 
 Combined fixed charges
 
 
$
83,832

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
2.78

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
2.77