EX-12.3 7 a2226838zex-12_3.htm EX-12.3

Exhibit 12.3

 

Reckson Operating Partnership, L.P.

 

Ratio of Earnings to Fixed Charges

 

(Dollars in Thousands)

 

 

 

Nine Months Ended
September 30,

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2014

 

2013

 

2012

 

2011

 

2010

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before non-controlling interests and fixed charges

 

$

418,735

 

$

267,391

 

$

451,127

 

$

393,585

 

$

256,205

 

$

277,902

 

$

308,457

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

$

86,873

 

$

98,170

 

$

129,428

 

$

133,853

 

$

135,726

 

$

104,511

 

$

89,429

 

Rent expense

 

7,527

 

10,625

 

13,171

 

19,402

 

17,633

 

16,388

 

16,586

 

Amortization of debt issuance costs

 

5,674

 

5,864

 

7,809

 

8,460

 

9,487

 

3,946

 

2,607

 

Capitalized interest

 

1,107

 

2,835

 

3,753

 

—

 

—

 

—

 

—

 

Total Fixed Charges

 

$

101,181

 

$

117,494

 

$

154,161

 

$

161,715

 

$

162,846

 

$

124,845

 

$

108,622

 

Ratio of earnings to fixed charges

 

4.14

 

2.28

 

2.93

 

2.43

 

1.57

 

2.23

 

2.84