EX-12.1 3 lptex121-63016.htm EXHIBIT 12.1 Exhibit


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, 2016
 
 
 
 
 
 Earnings before fixed charges:
 
 
 
Income from operations before income taxes and equity in earnings of unconsolidated subsidiaries and after distribution of earnings from unconsolidated subsidiaries
 
 
$
136,426

Add:
Interest expense
 
 
59,539

 
Depreciation expense on capitalized interest
 
 
1,048

 
Amortization of deferred financing costs
 
 
2,004

 
 
 
 
 
 Earnings before fixed charges
 
 
$
199,017

 
 
 
 
 
 
 
 
 
 
 Fixed charges:
 
 
 
 Interest expense
 
 
$
59,539

 Amortization of deferred financing costs
 
 
2,004

 Capitalized interest
 
 
11,260

 
 
 
 
 
 Fixed charges
 
 
72,803

 
 
 
 
 
 Preferred unit distributions
 
 
236

 
 
 
 
 
 Combined fixed charges
 
 
$
73,039

 
 
 
 
 
 Ratio of earnings to fixed charges
 
 
2.73

 
 
 
 
 
 Ratio of earnings to combined fixed charges
 
 
2.72