EX-12.2 3 ex122lp.htm EXHIBIT 12.2 LP ex122lp.htm
 
 

 

Exhibit 12.2
MACK-CALI REALTY, L.P.
 CALCULATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND
 PREFERRED SECURITY DIVIDENDS

 (DOLLAR AMOUNTS IN THOUSANDS)

Mack-Cali Realty Corporation's ratios of earnings to combined fixed charges and preferred stock dividends 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
 
Preferred unit Distributions:
                               
Preferred unit Distributions – Series B
   
   
   
   
 
 $
3,909
 
Preferred unit Distributions – Series C
   
2,000
   
2,000
   
2,000
   
2,000
   
2,000
 
Total Preferred units Distributions:
   
2,000
   
2,000
   
2,000
   
2,000
   
5,909
 
TOTAL COMBINED FIXED CHARGES AND PREFERRED SECURITY DIVIDENDS:
 
$
144,919
 
$
136,178
 
$
134,609
 
$
144,648
 
$
130,966
 
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SECURITY DIVIDENDS:
   
1.5
   
1.8
   
1.7
   
1.7
   
1.6