EX-12.1 5 ex121ratioofearningstofixe.htm RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.1

COLUMBIA PROPERTY TRUST, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
 
 
 
Year Ended
December 31, 2017
 
Year Ended
December 31, 2016
Fixed charges
 
 
 
 
Interest expense1
 
$
54,024

 
$
60,674

Total fixed charges
 
$
54,024

 
$
60,674

 
 
 
 
 
Earnings available for fixed charges
 
 
 
 
Net income before taxes and equity in unconsolidated joint venture
 
$
173,177

 
$
92,287

Add: Fixed charges
 
54,024

 
60,674

Less: Capitalized interest
 
(708
)
 
(265
)
Total earnings available for fixed charges
 
$
226,493

 
$
152,696

 
 
 
 
 
Ratio of earnings to fixed charges
 
4.19

 
2.52

1 
Interest expense has been adjusted to exclude interest income related to development authority bonds, which is entirely offset by the related interest income.