Duke Realty Limited PARTNERSHIP 10-Q 2010 Q1 Quarterly report

EXHIBIT 12.1

DUKE REALTY LIMITED PARTNERSHIP

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS

(in thousands, except ratios)

	Three Months Ended March 31, 2010			Year Ended December 31, 2009			Year Ended December 31, 2008			Year Ended December 31, 2007		Year Ended December 31, 2006		Year Ended December 31, 2005
Net income (loss) from continuing operations, less preferred distributions	$	(25,605	)	$	(348,927	)	$	16,755		$	103,021	$	99,454	$	92,639
Preferred distributions		18,363			73,451			71,426			58,292		56,419		46,479
Interest expense		59,021			216,908			195,066			171,555		167,061		103,277
Earnings (loss) before fixed charges	$	51,779		$	(58,568	)	$	283,247		$	332,868	$	322,934	$	242,395
Interest expense	$	59,021		$	216,908		$	195,066		$	171,555	$	167,061	$	103,277
Interest costs capitalized		3,841			26,864			53,456			59,167		36,260		9,510
Total fixed charges		62,862			243,772			248,522			230,722		203,321		112,787
Preferred distributions		18,363			73,451			71,426			58,292		56,419		46,479
Total fixed charges and preferred distributions	$	81,225		$	317,223		$	319,948		$	289,014	$	259,740	$	159,266
Ratio of earnings to fixed charges		N/A	(1)		N/A	(3)		1.14			1.44		1.59		2.15
Ratio of earnings to fixed charges and preferred distributions		N/A	(2)		N/A	(4)		N/A	(5)		1.15		1.24		1.52

(1) N/A – The ratio is less than 1.0; deficit of $11.1 million exists for the three months ended March 31, 2010. The calculation of earnings includes $83.5 million of non-cash depreciation expense.

(2) N/A – The ratio is less than 1.0; deficit of $29.4 million exists for the three months ended March 31, 2010. The calculation of earnings includes $83.5 million of non-cash depreciation expense.

(3) N/A – The ratio is less than 1.0; deficit of $302.3 million exists for the year ended December 31, 2009. The calculation of earnings includes $335.2 million of non-cash depreciation expense.

(4) N/A – The ratio is less than 1.0; deficit of $375.8 million exists for the year ended December 31, 2009. The calculation of earnings includes $335.2 million of non-cash depreciation expense.

(5) N/A – The ratio is less than 1.0; deficit of $36.7 million exists for the year ended December 31, 2008. The calculation of earnings includes $304.8 million of non-cash depreciation expense.