Exhibit 12.1
SL Green Operating Partnership, L.P.
Ratio of Earnings to Fixed Charge
|
| Six Months |
| Year Ended December 31, |
| ||||||||||||||
|
| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
| 2005 |
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Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Income (loss) from continuing operations |
| $ | 24,482 |
| $ | 9,867 |
| $ | 35,881 |
| $ | 73,355 |
| $ | 51,218 |
| $ | 37,364 |
|
Add: JV cash distributions |
| 26,304 |
| 79,523 |
| 525,372 |
| 128,305 |
| 112,540 |
| 200,857 |
| ||||||
Interest |
| 115,187 |
| 238,993 |
| 298,108 |
| 263,663 |
| 94,799 |
| 75,819 |
| ||||||
Amortization of loan costs expensed |
| 4,308 |
| 7,947 |
| 6,436 |
| 15,893 |
| 4,424 |
| 4,461 |
| ||||||
Portion of rent expense representative of interest |
| 11,292 |
| 22,986 |
| 24,346 |
| 23,276 |
| 17,850 |
| 16,915 |
| ||||||
Total earnings |
| $ | 181,573 |
| $ | 359,315 |
| $ | 890,144 |
| $ | 504,492 |
| $ | 280,831 |
| $ | 335,416 |
|
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|
|
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Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
|
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Interest |
| $ | 115,187 |
| $ | 238,993 |
| $ | 298,108 |
| $ | 263,663 |
| $ | 94,799 |
| $ | 75,819 |
|
Interest capitalized |
| — |
| 98 |
| (179 | ) | 5,118 |
| 8,529 |
| 6,849 |
| ||||||
Portion of rent expense representative of interest |
| 11,292 |
| 22,986 |
| 24,346 |
| 23,276 |
| 17,850 |
| 16,915 |
| ||||||
Amortization of loan costs expensed |
| 4,308 |
| 7,947 |
| 6,436 |
| 15,893 |
| 4,424 |
| 4,461 |
| ||||||
Total Fixed Charges |
| $ | 130,787 |
| $ | 270,023 |
| $ | 328,712 |
| $ | 307,950 |
| $ | 125,602 |
| $ | 104,044 |
|
Ratio of earnings to fixed charges |
| 1.39X |
| 1.33X |
| 2.71X |
| 1.64X |
| 2.24X |
| 3.22X |
|