EX-12.1 4 ex12-1.txt
Exhibit 12.1 HRPT PROPERTIES TRUST COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Interest Only) (dollars in thousands) Six Months Ended June 30, Year Ended December 31, --------------------------- ---------------------------------------------------------------- 2002 2001 2001 2000 1999 1998 1997 --------------------------- ---------------------------------------------------------------- Earnings: Income before equity in earnings (loss) of equity investments and extraordinary item $ 43,683 $ 47,311 $ 89,659 $ 110,086 $ 116,638 $ 136,756 $ 97,230 Fixed charges 44,602 47,191 91,305 104,337 91,420 66,612 38,703 Distributions from equity investments 13,493 13,286 26,651 30,294 18,606 10,320 9,640 Capitalized interest (1,443) (523) (787) (1,680) (1,488) (447) (165) --------------------------- ---------------------------------------------------------------- Adjusted Earnings $ 100,335 $ 107,265 $ 206,828 $ 243,037 $ 225,176 $ 213,241 $ 145,408 =========================== ================================================================ Fixed Charges: Interest expense $ 41,297 $ 45,128 $ 87,075 $ 100,074 $ 87,470 $ 64,326 $ 36,766 Amortization of deferred financing costs 1,862 1,540 3,443 2,583 2,462 1,839 1,772 Capitalized interest 1,443 523 787 1,680 1,488 447 165 --------------------------- ---------------------------------------------------------------- Total Fixed Charges $ 44,602 $ 47,191 $ 91,305 $ 104,337 $ 91,420 $ 66,612 $ 38,703 =========================== ================================================================ Ratio of Earnings to Fixed Charges 2.2x 2.3x 2.3x 2.3x 2.5x 3.2x 3.8x =========================== ================================================================