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DUKE REALTY LIMITED PARTNERSHIP
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED UNIT DIVIDENDS
(Dollars in thousands)
| Three Months Ended March 31, 2003 | 2002 | |||||
---|---|---|---|---|---|---|---|
Earnings: | |||||||
Net income from continuing operations | $ | 39,236 | $ | 173,814 | |||
Preferred distributions | 10,154 | 52,613 | |||||
Earnings from land and depreciated property dispositions | (9,402 | ) | 410 | ||||
Interest expense | 32,713 | 117,073 | |||||
Earnings before fixed charges | $ | 72,701 | $ | 343,910 | |||
Fixed charges and preferred distributions: | |||||||
Interest expense | $ | 32,713 | $ | 117,073 | |||
Interest costs capitalized | 1,866 | 13,529 | |||||
Total fixed charges | $ | 34,579 | $ | 130,602 | |||
Preferred distributions | $ | 10,154 | $ | 52,613 | |||
Total fixed charges and preferred distributions | $ | 44,733 | $ | 183,215 | |||
Ratio of earnings to fixed charges | 2.10 | 2.63 | |||||
Ratio of earnings to combined fixed charges and preferred unit distributions | 1.63 | 1.88 | |||||