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Exhibit 12.2

GPT Operating Partnership LP
Ratio of Earnings to Combined Fixed Charges
(Dollars in Thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31,
 
Year Ended December 31,
 
 
2017 1
 
2016
 
2015 1
 
2014
 
2013
 
2012 1
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
  Net income (loss) from continuing operations, before provision for taxes
 
$
(8,268
)
 
$
21,908

 
$
(48,280
)
 
$
56,002

 
$
(1,779
)
 
$
(15,011
)
  Add (Subtract):
 
 
 
 
 
 
 
 
 
 
 
 
    Loss (income) from unconsolidated equity investments
 
94

 
(2,409
)
 
1,107

 
(1,959
)
 
5,662

 
2,904

    Distributions from unconsolidated equity investments
 
352

 
50,891

 
5,704

 
3,373

 
7,985

 
—

    Fixed charges
 
23,056

 
76,241

 
35,166

 
16,857

 
16,386

 
88,159

    Capitalized interest
 
—

 
—

 
—

 
—

 
—

 
—

Income (loss) before fixed charges
 
$
15,234

 
$
146,631

 
$
(6,303
)
 
$
74,273

 
$
28,254

 
$
76,052

 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
  Interest expense
 
$
23,056

 
$
76,241

 
$
35,166

 
$
16,857

 
$
16,386

 
$
88,159

  Capitalized interest
 
—

 
—

 
—

 
—

 
—

 
—

Total fixed charges
 
$
23,056

 
$
76,241

 
$
35,166

 
$
16,857

 
$
16,386

 
$
88,159

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
0.7x

 
1.9x

 
(0.2x)

 
4.4x

 
1.7x

 
0.9x

Deficiency
 
$
7,822

 
 N/A

 
$
41,469

 
 N/A

 
 N/A

 
$
12,107

1. For the three months ended March 31, 2017 and the years ended December 31, 2015 and 2012, earnings were not sufficient to cover fixed charges by $7,822, $41,469, and $12,107, respectively.