Exhibit 12.1
Equity Office Properties Trust
Statement of Earnings to Fixed Charges
(Dollars in thousands)
Statement of Earnings to Fixed Charges
(Dollars in thousands)
| For the years ended December 31, | ||||||||||||||||||||
| 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||
| Income before income taxes, allocation to minority interests, income from investments in unconsolidated joint ventures and gain on sales of real estate | $ | 209,178 | $ | 359,058 | $ | 462,103 | $ | 361,834 | $ | 329,569 | ||||||||||
| Plus Fixed Charges: | ||||||||||||||||||||
| Interest expense | 830,571 | 803,953 | 792,288 | 710,046 | 504,379 | |||||||||||||||
| Capitalized interest | 4,648 | 10,089 | 20,466 | 23,591 | 14,277 | |||||||||||||||
| Loan amortization cost | 15,284 | 6,492 | 4,422 | 14,622 | 10,796 | |||||||||||||||
| Fixed charges | 850,503 | 820,534 | 817,176 | 748,259 | 529,452 | |||||||||||||||
| Plus amortization of capitalized interest | 1,790 | 1,490 | 1,345 | 1,165 | 1,000 | |||||||||||||||
| Plus distributed income of investments in unconsolidated joint ventures | 66,829 | 87,624 | 149,224 | 82,409 | 63,942 | |||||||||||||||
| Less capitalized interest | (4,648 | ) | (10,089 | ) | (20,466 | ) | (23,591 | ) | (14,277 | ) | ||||||||||
| Less minority interest in pretax income of subsidiaries that have not incurred fixed charges | (2,070 | ) | (2,217 | ) | (2,345 | ) | (2,333 | ) | (721 | ) | ||||||||||
| Total | 61,901 | 76,808 | 127,758 | 57,650 | 49,944 | |||||||||||||||
| Earnings | $ | 1,121,582 | $ | 1,256,400 | $ | 1,407,037 | $ | 1,167,743 | $ | 908,965 | ||||||||||
| Fixed charges | $ | 850,503 | $ | 820,534 | $ | 817,176 | $ | 748,259 | $ | 529,452 | ||||||||||
| Earnings to fixed charges | 1.3 | 1.5 | 1.7 | 1.6 | 1.7 | |||||||||||||||