EX-12.2 5 a07-5534_1ex12d2.htm EX-12.2

Exhibit 12.2

HRPT PROPERTIES TRUST

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED
DISTRIBUTIONS
(dollars in thousands)

 

Year Ended December 31,

 

 

 

2006

 

2005

 

2004

 

2003

 

2002

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Income before equity in earnings and
gains (losses) on equity transactions of
equity investments

 

$

131,157

 

$

138,869

 

$

117,386

 

$

90,921

 

$

88,923

 

Fixed charges before preferred
distributions

 

166,229

 

143,663

 

118,212

 

101,144

 

89,417

 

Distributions from equity investments

 

5,387

 

22,646

 

24,572

 

27,404

 

27,195

 

Capitalized interest

 

(335

)

—

 

—

 

—

 

(3,057

)

Adjusted Earnings

 

$

302,438

 

$

305,178

 

$

260,170

 

$

219,469

 

$

202,478

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges and Preferred Distributions:

 

 

 

 

 

 

 

 

 

 

 

Interest expense (including amortization of
note discounts and premiums and
deferred financing fees)

 

$

165,894

 

$

143,663

 

$

118,212

 

$

101,144

 

$

86,360

 

Capitalized interest

 

335

 

—

 

—

 

—

 

3,057

 

Preferred distributions

 

44,692

 

46,000

 

46,000

 

46,000

 

27,625

 

Combined Fixed Charges and Preferred
Distributions

 

$

210,921

 

$

189,663

 

$

164,212

 

$

147,144

 

$

117,042

 

Ratio of Earnings to Combined Fixed
Charges and Preferred Distributions

 

1.4x

 

1.6x

 

1.6x

 

1.5x

 

1.7x