Exhibit 12.2
Brookfield Property Partners L.P.
Consolidated Earnings to Fixed Charges
(US$ Millions) Years ended Dec. 31, | 2017 | 2016 | ||||||
Net income | $ | 2,468 | $ | 2,717 | ||||
Less: | ||||||||
Fair value gains, net | (1,254 | ) | (692 | ) | ||||
Share of net earnings from equity accounted investments | (961 | ) | (1,019 | ) | ||||
Income taxes | 192 | (575 | ) | |||||
Capitalized interest | (86 | ) | (117 | ) | ||||
Plus: | ||||||||
Distributions from equity accounted investments | 369 | 524 | ||||||
Combined total fixed charges and preferred share dividends | 2,335 | 2,089 | ||||||
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Earnings | 3,063 | 2,927 | ||||||
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Interest expense | 1,967 | 1,681 | ||||||
Capitalized interest | 86 | 117 | ||||||
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Total fixed charges | 2,053 | 1,798 | ||||||
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Preferred share dividends | 282 | 291 | ||||||
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Combined total fixed charges and preferred share dividends | 2,335 | 2,089 | ||||||
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Excess of earnings over combined total fixed charges and preferred share dividends | 728 | 838 | ||||||
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Ratio of consolidated earnings to total fixed charges | 1.49 | 1.63 | ||||||
Ratio of consolidated earnings to combined total fixed charges and preferred share dividends | 1.31 | 1.40 | ||||||
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