EX-12.1 5 v377650_ex12-1.htm EXHIBIT 12.1 LXP EX12_2013.12.31 - Ratio of Earnings

Exhibit 12.1

LEXINGTON REALTY TRUST
and Consolidated Subsidiaries
For the years ended December 31,
($000's)
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS

Earnings
 
2013
 
2012
 
2011
 
2010
 
2009
Loss before benefit (provision) for income taxes, noncontrolling interests, equity in earnings (losses) of non-consolidated entities, gain on acquisition and discontinued operations
 
$
(10,732
)
 
$
(5,461
)
 
$
(33,348
)
 
$
(26,004
)
 
$
(7,768
)
Interest expense
 
87,823

 
90,394

 
97,740

 
106,174

 
109,962

Amortization expense - debt cost
 
3,448

 
3,283

 
3,661

 
5,148

 
4,424

Cash received from joint ventures
 
918

 
7,498

 
11,689

 
4,590

 
20,948

Total
 
$
81,457

 
$
95,714

 
$
79,742

 
$
89,908

 
$
127,566

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
87,823

 
$
90,394

 
$
97,740

 
$
106,174

 
$
109,962

Amortization expense - debt cost
 
3,448

 
3,283

 
3,661

 
5,148

 
4,424

Capitalized interest expense
 
2,327

 
2,942

 
1,769

 
760

 
602

Preferred stock dividends
 
9,833

 
20,291

 
24,507

 
24,872

 
25,281

Total
 
$
103,431

 
$
116,910

 
$
127,677

 
$
136,954

 
$
140,269

 
 
 
 
 
 
 
 
 
 
 
Ratio
 
N/A

 
N/A

 
N/A

 
N/A

 
N/A



N/A - Ratio is less than 1.0, deficit of $21,974, $21,196, $47,935, $47,046 and $12,703 exists at December 31, 2013, 2012, 2011, 2010 and 2009, respectively.