EX-12.1 2 lptex121-6302018.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)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2018
 
 
 
 
 
 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
 
 
$
63,145

Add:
Interest expense
 
 
41,847

 
Depreciation expense on capitalized interest
 
 
1,080

 
Amortization of deferred financing costs
 
 
1,798

 
 
 
 
 
 Earnings before fixed charges
 
 
$
107,870

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
41,847

 Amortization of deferred financing costs
 
 
1,798

 Capitalized interest
 
 
11,896

 
 
 
 
 
 Fixed charges
 
 
55,541

 
 
 
 
 
 Preferred unit distributions
 
 
236

 
 
 
 
 
 Combined fixed charges
 
 
$
55,777

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
1.94

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
1.93