Exhibit 12.3
Reckson Operating Partnership, L.P.
Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
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| Nine Months Ended |
| Year Ended December 31, |
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| 2015 |
| 2014 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| 2010 |
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Earnings |
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Income from continuing operations before non-controlling interests and fixed charges |
| $ | 418,735 |
| $ | 267,391 |
| $ | 451,127 |
| $ | 393,585 |
| $ | 256,205 |
| $ | 277,902 |
| $ | 308,457 |
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Fixed Charges |
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Interest |
| $ | 86,873 |
| $ | 98,170 |
| $ | 129,428 |
| $ | 133,853 |
| $ | 135,726 |
| $ | 104,511 |
| $ | 89,429 |
|
Rent expense |
| 7,527 |
| 10,625 |
| 13,171 |
| 19,402 |
| 17,633 |
| 16,388 |
| 16,586 |
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Amortization of debt issuance costs |
| 5,674 |
| 5,864 |
| 7,809 |
| 8,460 |
| 9,487 |
| 3,946 |
| 2,607 |
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Capitalized interest |
| 1,107 |
| 2,835 |
| 3,753 |
| — |
| — |
| — |
| — |
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Total Fixed Charges |
| $ | 101,181 |
| $ | 117,494 |
| $ | 154,161 |
| $ | 161,715 |
| $ | 162,846 |
| $ | 124,845 |
| $ | 108,622 |
|
Ratio of earnings to fixed charges |
| 4.14 |
| 2.28 |
| 2.93 |
| 2.43 |
| 1.57 |
| 2.23 |
| 2.84 |
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