Elme Communities (ELME) 10-Q 2017 Q2 Quarterly report

Exhibit 12

WASHINGTON REAL ESTATE INVESTMENT TRUST

Computation of Ratios

(In thousands)

Earnings to fixed charges ratio:

	Three Months Ended June 30,							Six Months Ended June 30,
	2017			2016				2017			2016
Net income	$	7,847		$	31,821			$	14,462		$	34,200
Additions:
Fixed charges
Interest expense	12,053			13,820				23,458			28,180
Capitalized interest	229			165				445			288
	12,282			13,985				23,903			28,468
Deductions:
Capitalized interest	(229		)	(165		)		(445		)	(288		)
Net loss attributable to noncontrolling interests	17			15				36			20
Adjusted earnings	19,917			45,656				37,956			62,400
Fixed charges (from above)	$	12,282		$	13,985			$	23,903		$	28,468
Ratio of earnings to fixed charges	1.62			3.26			(1)	1.59			2.19			(1)

⁽¹⁾ The earnings to fixed charges ratios for the three and six months ended June 30, 2016 include gain on sale of real estate of $24.1 million.