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, 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 | $ | 63,145 | ||||
Add: | Interest expense | 41,847 | ||||
Depreciation expense on capitalized interest | 1,080 | |||||
Amortization of deferred financing costs | 1,798 | |||||
Earnings before fixed charges | $ | 107,870 | ||||
Fixed charges: | ||||||
Interest expense | $ | 41,847 | ||||
Amortization of deferred financing costs | 1,798 | |||||
Capitalized interest | 11,896 | |||||
Fixed charges | 55,541 | |||||
Preferred unit distributions | 236 | |||||
Combined fixed charges | $ | 55,777 | ||||
Ratio of earnings to fixed charges | 1.94 | |||||
Ratio of earnings to combined fixed charges | 1.93 | |||||