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?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Good
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austerity, commencement, Concord, decided, deferred, delay, extraordinary, forward, largest, limit, limited, nonrecurring, oversupply, preferred, Randolph, reconcile, recruitment, sector, stopped, tool, utility
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Exhibit 12
WASHINGTON REAL ESTATE INVESTMENT TRUST
Computation of Ratios
(In thousands)
Earnings to fixed charges ratio:
Q1 2013 | Q1 2012 | ||||||
Income from continuing operations | $ | 3,955 | $ | 4,834 | |||
Additions: | |||||||
Fixed charges | |||||||
Interest expense | 16,518 | 15,831 | |||||
Capitalized interest | 293 | 425 | |||||
16,811 | 16,256 | ||||||
Deductions: | |||||||
Capitalized interest | (293 | ) | (425 | ) | |||
Adjusted earnings | 20,473 | 20,665 | |||||
Fixed charges (from above) | $ | 16,811 | $ | 16,256 | |||
Ratio of earnings to fixed charges | 1.22 | 1.27 |
Debt service coverage ratio:
Q1 2013 | Q1 2012 | ||||||
Net income attributable to the controlling interests | $ | 7,335 | $ | 5,181 | |||
Additions: | |||||||
Interest expense | 16,518 | 15,895 | |||||
Real estate depreciation and amortization | 25,524 | 25,994 | |||||
Income tax expense | — | 13 | |||||
Non-real estate depreciation | 196 | 268 | |||||
42,238 | 42,170 | ||||||
Deductions: | |||||||
Gain on sale of real estate | (3,195 | ) | — | ||||
Adjusted EBITDA | 46,378 | 47,351 | |||||
Debt service | |||||||
Interest expense | 16,518 | 15,895 | |||||
Principal amortization | 832 | 1,453 | |||||
$ | 17,350 | $ | 17,348 | ||||
Debt service coverage ratio | 2.67 | 2.73 |