EX-12.1 2 ex121lp.htm EXHIBIT 12.1 LP ex121lp.htm
 
 
 

Exhibit 12.1
MACK-CALI REALTY, L.P.

 CALCULATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 (DOLLAR AMOUNTS IN THOUSANDS)

        Mack-Cali Realty Corporation's ratios of earnings to fixed charges for each of the five years ended December 31, 2009 were as follows:

                                   
   
For the Year Ended December 31,
  
   
2009
  
2008
  
2007
  
2006
  
2005
  
EARNINGS:
                                
ADD:
                                
 
Income from continuing operations before minority interest and equity in earnings from unconsolidated joint ventures
  
$
 
69,288
  
$
 
104,631
  
$
 
94,530
  
$
 
110,138
  
$
 
92,051
  
 
Fixed charges (see calculation below)
    
142,919
    
134,178
    
132,609
    
142,648
    
125,057
  
 
Distributed income of unconsolidated joint ventures
    
2,637
    
5,784
    
1,875
    
2,302
    
—
  
SUBTRACT:
                                
 
Capitalized interest
    
(1,401
)
  
(5,799
)
  
(5,101
)
  
(6,058
)
  
(5,518
)
TOTAL EARNINGS:
  
$
213,443
  
$
238,794
  
$
223,913
  
$
249,030
  
$
211,590
  
FIXED CHARGES:
                                
Interest expense (includes amortization of deferred financing costs)
  
$
141,273
  
$
128,145
  
$
127,287
  
$
136,357
  
$
119,337
  
Capitalized interest
    
1,401
    
5,799
    
5,101
    
6,058
    
5,518
  
Interest portion (33 percent) of ground rents on land leases
    
245
    
234
    
221
    
233
    
202
  
TOTAL FIXED CHARGES:
  
$
142,919
  
$
134,178
  
$
132,609
  
$
142,648
  
$
125,057
  
RATIO OF EARNINGS TO FIXED CHARGES:
    
1.5
    
1.8
    
1.7
    
1.7
    
1.7