Exhibit 12.1
SL Green Realty Corp.
Ratio of Earnings to Fixed Charges
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| Three Months Ended |
| Year Ended December 31, |
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| 2011 |
| 2010 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
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Earnings |
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Income (loss) from continuing operations |
| $ | 71,163 |
| $ | 8,841 |
| $ | 108,175 |
| $ | 1,619 |
| $ | 26,028 |
| $ | 62,061 |
| $ | 43,849 |
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Add: JV cash distributions |
| 98,619 |
| 18,483 |
| 586,271 |
| 79,523 |
| 525,372 |
| 128,305 |
| 112,540 |
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Interest |
| 65,154 |
| 56,752 |
| 231,264 |
| 235,347 |
| 295,634 |
| 263,663 |
| 94,799 |
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Portion of rent expense representative of interest |
| 5,527 |
| 5,664 |
| 22,432 |
| 22,986 |
| 24,346 |
| 23,276 |
| 17,850 |
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Total earnings |
| $ | 240,463 |
| $ | 89,740 |
| $ | 948,142 |
| $ | 339,474 |
| $ | 871,380 |
| $ | 477,306 |
| $ | 269,038 |
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Fixed Charges |
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Interest |
| $ | 65,154 |
| $ | 56,752 |
| $ | 231,264 |
| $ | 235,347 |
| $ | 295,634 |
| $ | 263,663 |
| $ | 94,799 |
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Interest capitalized |
| 1,295 |
| — |
| — |
| 98 |
| (179 | ) | 5,118 |
| 8,529 |
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Portion of rent expense representative of interest |
| 5,527 |
| 5,664 |
| 22,432 |
| 22,986 |
| 24,346 |
| 23,276 |
| 17,850 |
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Amortization of loan costs expensed |
| 3,806 |
| 2,295 |
| 9,046 |
| 7,065 |
| 6,142 |
| 15,893 |
| 4,424 |
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Total Fixed Charges |
| $ | 75,782 |
| $ | 64,711 |
| $ | 262,743 |
| $ | 265,496 |
| $ | 325,943 |
| $ | 307,951 |
| $ | 125,602 |
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Ratio of earnings to fixed charges |
| 3.17 |
| 1.39 |
| 3.61 |
| 1.28 |
| 2.67 |
| 1.55 |
| 2.14 |
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SL Green Operating Partnership L.P.
Ratio of Earnings to Fixed Charges
|
| Three Months Ended |
| Year Ended December 31, |
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|
| 2011 |
| 2010 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
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Earnings |
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Income (loss) from continuing operations |
| $ | 71,163 |
| $ | 8,841 |
| $ | 108,175 |
| $ | 1,619 |
| $ | 26,028 |
| $ | 62,061 |
| $ | 43,849 |
|
Add: JV cash distributions |
| 98,619 |
| 18,483 |
| 586,271 |
| 79,523 |
| 525,372 |
| 128,305 |
| 112,540 |
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Interest |
| 65,154 |
| 56,752 |
| 231,264 |
| 235,347 |
| 295,634 |
| 263,663 |
| 94,799 |
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Portion of rent expense representative of interest |
| 5,527 |
| 5,664 |
| 22,432 |
| 22,986 |
| 24,346 |
| 23,276 |
| 17,850 |
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Total earnings |
| $ | 240,463 |
| $ | 89,740 |
| $ | 948,142 |
| $ | 339,474 |
| $ | 871,380 |
| $ | 477,306 |
| $ | 269,038 |
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Fixed Charges |
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Interest |
| $ | 65,154, |
| $ | 56,752 |
| $ | 231,264 |
| $ | 235,347 |
| $ | 295,634 |
| $ | 263,663 |
| $ | 94,799 |
|
Interest capitalized |
| 1,295 |
| — |
| — |
| 98 |
| (179 | ) | 5,118 |
| 8,529 |
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Portion of rent expense representative of interest |
| 5,527 |
| 5,664 |
| 22,432 |
| 22,986 |
| 24,346 |
| 23,276 |
| 17,850 |
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Amortization of loan costs expensed |
| 3,806 |
| 2,295 |
| 9,046 |
| 7,065 |
| 6,142 |
| 15,893 |
| 4,424 |
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Total Fixed Charges |
| $ | 75,782 |
| $ | 64,711 |
| $ | 262,743 |
| $ | 265,496 |
| $ | 325,943 |
| $ | 307,951 |
| $ | 125,602 |
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Ratio of earnings to fixed charges |
| 3.17 |
| 1.39 |
| 3.61 |
| 1.28 |
| 2.67 |
| 1.55 |
| 2.14 |
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Reckson Operating Partnership, L.P.
Ratio of Earnings to Fixed Charges
|
| Three Months Ended |
| Year Ended December 31, |
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|
| 2011 |
| 2010 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
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Earnings |
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Income from continuing operations before non-controlling interests and fixed charges |
| $ | 34,310 |
| $ | 32,162 |
| $ | 118,258 |
| $ | 99,202 |
| $ | 139,127 |
| $ | 119,867 |
| $ | 32,878 |
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Fixed Charges |
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Interest |
| $ | 13,811 |
| $ | 13,809 |
| $ | 59,722 |
| $ | 56,444 |
| $ | 74,163 |
| $ | 76,024 |
| $ | 98,512 |
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Rent expense |
| 1,595 |
| 1,621 |
| 6,482 |
| 6,482 |
| 6,482 |
| 6,585 |
| 6,367 |
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Amortization of debt issuance costs |
| 107 |
| 13 |
| 339 |
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| 152 |
| 4,312 |
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Capitalized interest |
| — |
| — |
| — |
| 54 |
| (480 | ) | 5,118 |
| 11,034 |
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Total Fixed Charges |
| $ | 15,513 |
| $ | 15,443 |
| $ | 66,543 |
| $ | 62,980 |
| $ | 80,165 |
| $ | 87,879 |
| $ | 120,225 |
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Ratio of earnings to fixed charges |
| 2.21 |
| 2.08 |
| 1.78 |
| 1.58 |
| 1.74 |
| 1.36 |
| 0.27 |
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