EX-12.2 6 d567992dex122.htm EX-12.2 EX-12.2

Exhibit 12.2

Brookfield Property Partners L.P.

Consolidated Earnings to Fixed Charges

 

(US$ Millions) Years ended Dec. 31,

    2017     2016  

Net income

    $ 2,468     $ 2,717  

Less:

     

Fair value gains, net

      (1,254 )      (692 ) 

Share of net earnings from equity accounted investments

      (961 )      (1,019 ) 

Income taxes

      192       (575 ) 

Capitalized interest

      (86 )      (117 ) 

Plus:

    

Distributions from equity accounted investments

      369       524  

Combined total fixed charges and preferred share dividends

      2,335       2,089  
  

 

 

    

 

 

  

Earnings

      3,063       2,927  
  

 

 

    

 

 

  

Interest expense

      1,967       1,681  

Capitalized interest

      86       117  
  

 

 

    

 

 

  

Total fixed charges

      2,053       1,798  
  

 

 

    

 

 

  

Preferred share dividends

      282       291  
  

 

 

    

 

 

  

Combined total fixed charges and preferred share dividends

      2,335       2,089  
  

 

 

    

 

 

  

Excess of earnings over combined total fixed charges and preferred share dividends

      728       838  
  

 

 

    

 

 

  

Ratio of consolidated earnings to total fixed charges

      1.49       1.63  

Ratio of consolidated earnings to combined total fixed charges and preferred share dividends

      1.31       1.40