Exhibit 12.2
DuPont Fabros Technology, L.P.
Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Fixed Charges and Preferred Share Dividends
(Unaudited)
(Amounts in thousands, except ratios)
Three months ended March 31, | Year ended December 31, | |||||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Net Income | $ | 26,333 | $ | 124,611 | $ | 53,605 | $ | 60,833 | $ | 79,480 | $ | 43,708 | ||||||||||||
Add: Fixed charges | 12,022 | 47,059 | 53,920 | 56,100 | 58,077 | 69,742 | ||||||||||||||||||
Less: Capitalized interest | (3,087 | ) | (10,245 | ) | (4,000 | ) | (4,711 | ) | (28,411 | ) | (26,375 | ) | ||||||||||||
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Total earnings | $ | 35,268 | $ | 161,425 | $ | 103,525 | $ | 112,222 | $ | 109,146 | $ | 87,075 | ||||||||||||
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Fixed Charges and Preferred Stock Dividends: | ||||||||||||||||||||||||
Interest expense | $ | 8,258 | $ | 33,699 | $ | 46,443 | $ | 47,765 | $ | 27,096 | $ | 36,746 | ||||||||||||
Capitalized interest | 2,856 | 9,644 | 3,774 | 4,434 | 27,024 | 25,177 | ||||||||||||||||||
Amortization of deferred financing costs | 642 | 2,980 | 3,349 | 3,496 | 2,446 | 6,497 | ||||||||||||||||||
Capitalization of amortization of deferred financing costs | 231 | 601 | 226 | 277 | 1,387 | 1,198 | ||||||||||||||||||
Interest factor in rents | 35 | 135 | 128 | 128 | 124 | 124 | ||||||||||||||||||
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Fixed Charges | $ | 12,022 | $ | 47,059 | $ | 53,920 | $ | 56,100 | $ | 58,077 | $ | 69,742 | ||||||||||||
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Preferred stock dividend requirements | 6,811 | 27,245 | 27,245 | 27,053 | 20,874 | 3,157 | ||||||||||||||||||
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Combined Fixed Charges and Preferred Stock Dividends | $ | 18,833 | $ | 74,304 | $ | 81,165 | $ | 83,153 | $ | 78,951 | $ | 72,899 | ||||||||||||
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Ratio of earnings to fixed charges | 2.93 | 3.43 | 1.92 | 2.00 | 1.88 | 1.25 | ||||||||||||||||||
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Ratio of earnings to combined fixed charges and preferred stock dividends | 1.87 | 2.17 | 1.28 | 1.35 | 1.38 | 1.19 | ||||||||||||||||||
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