Exhibit 12
WASHINGTON REAL ESTATE INVESTMENT TRUST
Computation of Ratios
(In thousands)
Earnings to fixed charges ratio:
|
| | | | | | | | | | | | | | | | |
| | Three Months Ended September 30, | | Nine Months Ended September 30, | |
| | 2016 | | 2015 | | 2016 | | 2015 | |
| Net income | $ | 79,662 |
| | $ | 580 |
| | $ | 113,862 |
| | $ | 27,092 |
| |
| Additions: | | | | | | | | |
| Fixed charges | | | | | | | | |
| Interest expense | 13,173 |
| | 14,486 |
| | 41,353 |
| | 44,534 |
| |
| Capitalized interest | 188 |
| | 96 |
| | 476 |
| | 555 |
| |
| | 13,361 |
| | 14,582 |
| | 41,829 |
| | 45,089 |
| |
| Deductions: | | | | | | | | |
| Capitalized interest | (188 | ) | | (96 | ) | | (476 | ) | | (555 | ) | |
| Net loss attributable to noncontrolling interests | 12 |
| | 67 |
| | 32 |
| | 515 |
| |
| Adjusted earnings | 92,847 |
| | 15,133 |
| | 155,247 |
| | 72,141 |
| |
| Fixed charges (from above) | $ | 13,361 |
| | $ | 14,582 |
| | $ | 41,829 |
| | $ | 45,089 |
| |
| Ratio of earnings to fixed charges | 6.95 |
| (1) | 1.04 |
| | 3.71 |
| (1) | 1.60 |
| (2) |
(1) The earnings to fixed charges ratios for the three and nine months ended ended September 30, 2016 include gains on sale of real estate of $77.6 million and $101.7 million, respectively.
(2) The earnings to fixed charges ratio for the nine months ended September 30, 2015 includes gains on sale of real estate of $31.7 million.
