EX-12.1 3 lryex121-63012.htm EXHIBIT 12.1 LRY Ex. 12.1 - 6.30.12


EXHIBIT 12.1 - STATEMENT RE: COMPUTATION OF RATIO
 OF EARNINGS TO FIXED CHARGES
 AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES
 
 
 
 
 
LIBERTY PROPERTY TRUST / LIBERTY PROPERTY LIMITED PARTNERSHIP
 (Amounts in thousands except ratio amounts)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2012
 
 
 
 
 
 Earnings before fixed charges:
 
 
 
 Income before allocation of noncontrolling interest
 
 
 
 and income from investments in unconsolidated
 
 
 
 subsidiaries
 
 
$
73,382

 Add:
Interest expense
 
 
57,691

 
Depreciation expense on capitalized interest
 
 
803

 
Amortization of deferred
 
 
 
 
  financing costs
 
 
2,418

 
 
 
 
 
 Earnings before fixed charges
 
 
$
134,294

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
57,691

 Amortization of deferred financing charges
 
 
2,418

 Capitalized interest
 
 
3,852

 
 
 
 
 
 Fixed charges
 
 
63,961

 
 
 
 
 
 Preferred unit distributions
 
 
7,479

 
 
 
 
 
 Combined fixed charges
 
 
$
71,440

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
2.10

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
1.88