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H.S. freshman Avg
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EXHIBIT 11.2
DUKE REALTY CORPORATION
EARNINGS TO DEBT SERVICE CALCULATIONS
(in thousands)
|
| DECEMBER 31, |
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Net income from continuing operations less dividends on preferred stock |
| $ | 155,953 |
|
Loss on land and depreciated property sales |
| 410 |
| |
Recurring principal amortization |
| 10,866 |
| |
Minority interest in earnings of common unitholders |
| 17,955 |
| |
Interest expense (excludes amortization of deferred financing fees) |
| 113,348 |
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Earnings before debt service |
| $ | 298,532 |
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|
|
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Interest expense (excludes amortization of deferred financing fees) |
| $ | 113,348 |
|
Recurring principal amortization |
| 10,866 |
| |
Total debt service |
| $ | 124,214 |
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|
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Earnings to debt service ratio |
| 2.40 |
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