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) | ||||||
Three Months Ended March 31, 2018 | ||||||
Earnings before fixed charges: | ||||||
Income from operations before income taxes and equity in earnings of unconsolidated joint ventures and after distribution of earnings from unconsolidated joint ventures | $ | 54,149 | ||||
Add: | Interest expense | 21,812 | ||||
Depreciation expense on capitalized interest | 543 | |||||
Amortization of deferred financing costs | 938 | |||||
Earnings before fixed charges | $ | 77,442 | ||||
Fixed charges: | ||||||
Interest expense | $ | 21,812 | ||||
Amortization of deferred financing costs | 938 | |||||
Capitalized interest | 5,727 | |||||
Fixed charges | 28,477 | |||||
Preferred unit distributions | 118 | |||||
Combined fixed charges | $ | 28,595 | ||||
Ratio of earnings to fixed charges | 2.72 | |||||
Ratio of earnings to combined fixed charges | 2.71 | |||||