EX-12.1 2 lryex121-63015.htm EXHIBIT 12.1 LRY Ex. 12.1 - 6.30.15


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, 2015
 
 
 
 
 
 Earnings before fixed charges:
 
 
 
Income from continuing operations before income taxes and equity in earnings of unconsolidated subsidiaries and after distribution of earnings from unconsolidated subsidiaries
 
 
$
81,170

Add:
Interest expense
 
 
67,568

 
Depreciation expense on capitalized interest
 
 
965

 
Amortization of deferred financing costs
 
 
2,168

 
 
 
 
 
 Earnings before fixed charges
 
 
$
151,871

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
67,568

 Amortization of deferred financing costs
 
 
2,168

 Capitalized interest
 
 
7,437

 
 
 
 
 
 Fixed charges
 
 
77,173

 
 
 
 
 
 Preferred unit distributions
 
 
236

 
 
 
 
 
 Combined fixed charges
 
 
$
77,409

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
1.97

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
1.96