Exhibit 12.1
GOVERNMENT PROPERTIES INCOME TRUST
Computation of Ratio of Earnings to Fixed Charges
(in thousands except ratios)
|
| Six Months |
| Year Ended December 31, |
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|
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| 2010 |
| 2009 |
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Earnings: |
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Income from continuing operations before income tax expense |
| $ | 36,618 |
| $ | 55,308 |
| $ | 48,903 |
| $ | 42,255 |
| $ | 24,018 |
| $ | 22,284 |
|
Fixed Charges |
| 9,685 |
| 16,831 |
| 16,892 |
| 12,057 |
| 7,351 |
| 5,556 |
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Earnings |
| $ | 46,303 |
| $ | 72,139 |
| $ | 65,795 |
| $ | 54,312 |
| $ | 31,369 |
| $ | 27,840 |
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Fixed charges: |
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Interest expense |
| $ | 9,132 |
| $ | 15,491 |
| $ | 15,560 |
| $ | 11,012 |
| $ | 5,068 |
| $ | 4,005 |
|
Net amortization of debt premiums and deferred financing fees |
| 553 |
| 1,340 |
| 1,332 |
| 1,045 |
| 2,283 |
| 1,551 |
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|
| $ | 9,685 |
| $ | 16,831 |
| $ | 16,892 |
| $ | 12,057 |
| $ | 7,351 |
| $ | 5,556 |
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Ratio of Earnings to Fixed Charges: |
| 4.8x |
| 4.3x |
| 3.9x |
| 4.5x |
| 4.3x |
| 5.0x |
|