EX-11.2 5 a04-3173_1ex11d2.htm EX-11.2

EXHIBIT 11.2

 

DUKE REALTY LIMITED PARTNERSHIP

EARNINGS TO DEBT SERVICE CALCULATIONS

(in thousands)

 

 

 

DECEMBER 31,
2003

 

 

 

 

 

Net income from continuing operations, less preferred distributions

 

$

163,638

 

Loss/(Gain) on land and depreciated property sales

 

(15,774

)

Recurring principal amortization

 

9,017

 

Interest expense (excludes amortization of deferred financing fees)

 

125,534

 

Earnings before debt service

 

$

282,415

 

 

 

 

 

Interest expense (excludes amortization of deferred financing fees)

 

$

125,534

 

Recurring principal amortization

 

9,017

 

Total debt service

 

$

134,551

 

 

 

 

 

Debt Service Ratio

 

2.10