Duke Realty Limited PARTNERSHIP 10-Q 2012 Q3 Quarterly report

EXHIBIT 12.1

DUKE REALTY CORPORATION

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO

COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS

(in thousands, except ratios)

	Nine Months Ended September 30, 2012				Year Ended December 31, 2011				Year Ended December 31, 2010				Year Ended December 31, 2009				Year Ended December 31, 2008			Year Ended December 31, 2007
Net income (loss) from continuing operations, less preferred dividends	$	(98,737	)		$	(63,536	)		$	(30,588	)		$	(306,948	)		$	18,071		$	112,435
Preferred dividends	35,356				60,353				69,468				73,451				71,426			58,292
Interest expense	183,623				221,420				187,342				149,721				134,921			109,999
Earnings (loss) before fixed charges	$	120,242			$	218,237			$	226,222			$	(83,776	)		$	224,418		$	280,726
Interest expense	$	183,623			$	221,420			$	187,342			$	149,721			$	134,921		$	109,999
Interest costs capitalized	6,199				4,335				11,498				26,864				53,456			59,167
Total fixed charges	189,822				225,755				198,840				176,585				188,377			169,166
Preferred dividends	35,356				60,353				69,468				73,451				71,426			58,292
Total fixed charges and preferred dividends	$	225,178			$	286,108			$	268,308			$	250,036			$	259,803		$	227,458
Ratio of earnings to fixed charges	N/A			(1)	N/A			(3)	1.14				N/A			(6)	1.19			1.66
Ratio of earnings to fixed charges and preferred dividends	N/A			(2)	N/A			(4)	N/A			(5)	N/A			(7)	N/A		(8)	1.23

(1) N/A - The ratio is less than 1.0; deficit of $69.6 million exists for the nine months ended September 30, 2012. The calculation of earnings includes $279.1 million of non-cash depreciation and amortization expense.

(2) N/A - The ratio is less than 1.0; deficit of $104.9 million exists for the nine months ended September 30, 2012. The calculation of earnings includes $279.1 million of non-cash depreciation and amortization expense.

(3) N/A - The ratio is less than 1.0; deficit of $7.5 million exists for the year ended December 31, 2011. The calculation of earnings includes $328.2 million of non-cash depreciation and amortization expense.

(4) N/A - The ratio is less than 1.0; deficit of $67.9 million exists for the year ended December 31, 2011. The calculation of earnings includes $328.2 million of non-cash depreciation and amortization expense.

(5) N/A - The ratio is less than 1.0; deficit of $42.1 million exists for the year ended December 31, 2010. The calculation of earnings includes $277.4 million of non-cash depreciation and amortization expense.

(6) N/A - The ratio is less than 1.0; deficit of $260.4 million exists for the year ended December 31, 2009. The calculation of earnings includes $243.1 million of non-cash depreciation and amortization expense.

(7) N/A - The ratio is less than 1.0; deficit of $333.8 million exists for the year ended December 31, 2009. The calculation of earnings includes $243.1 million of non-cash depreciation and amortization expense.

(8) N/A - The ratio is less than 1.0; deficit of $35.4 million exists for the year ended December 31, 2008. The calculation of earnings includes $210.9 million of non-cash depreciation and amortization expense.