GOVERNMENT PROPERTIES INCOME TRUST
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS, EXCEPT RATIO AMOUNTS)
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| Nine Months Ended |
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| September 30, |
| Year Ended December 31, | ||||||||||||||
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| 2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| 2010 | ||||||
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Income (loss) from continuing operations (including gain on sale of |
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| properties, if any) before income tax expense and equity in |
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| earnings (losses) of investees | $ | (223,255) |
| $ | 42,243 |
| $ | 55,308 |
| $ | 48,903 |
| $ | 42,255 |
| $ | 24,018 |
Distributions of earnings from equity investees |
| 18,850 |
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| 17,046 |
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| — |
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| — |
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| — |
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Fixed charges |
| 27,894 |
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| 28,048 |
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| 16,831 |
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| 16,892 |
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| 12,057 |
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| 7,351 | |
Adjusted earnings (loss) | $ | (176,511) |
| $ | 87,337 |
| $ | 72,139 |
| $ | 65,795 |
| $ | 54,312 |
| $ | 31,369 | |
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Fixed Charges: |
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Interest on indebtedness and amortization of deferred |
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| finance costs and debt discounts | $ | 27,894 |
| $ | 28,048 |
| $ | 16,831 |
| $ | 16,892 |
| $ | 12,057 |
| $ | 7,351 |
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Ratio of adjusted earnings (loss) to fixed charges |
| (6.3x) (1) |
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| 3.1x |
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| 4.3x |
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| 3.9x |
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| 4.5x |
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| 4.3x | |
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(1)The deficiency for this period was approximately $204.3 million.