EX-12.1 4 c01626exv12w1.htm EXHIBIT 12.1 Exhibit 12.1
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, 2010  
 
        
Earnings before fixed charges:
        
Income before allocation of noncontrolling interest and income from investments in unconsolidated subsidiaries
   $ 72,999  
Add: Interest expense
     74,328  
Depreciation expense on cap’d interest
     830  
Amortization of deferred financing costs
     3,445  
 
      
 
        
Earnings before fixed charges
   $ 151,602  
 
      
 
        
Fixed charges:
        
Interest expense
   $ 74,328  
Amortization of deferred financing charges
     3,445  
Capitalized interest
     353  
 
      
 
        
Fixed charges
     78,126  
 
      
 
        
Preferred share distributions
     —  
Preferred unit distributions
     10,506  
 
      
 
        
Combined fixed charges
   $ 88,632  
 
      
 
        
Ratio of earnings to fixed charges
     1.94  
 
      
 
        
Ratio of earnings to combined fixed charges
     1.71