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Content analysis
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- 10-K Annual report
- 12.1 Statement of Computation of Ratio of Earnings
- 21.1 List of Company's Subsidiaries
- 23.1 Consent of KPMG LLP
- 24.1 Executed Powers of Attorney of Certain Directors
- 31.1 Section 302 CEO and CFO Certifications
- 32.1 Section 906 CEO and CFO Certifications
- 99.1 Seclected Quarterly Financial Information
EXHIBIT 12.1
DUKE REALTY CORPORATION
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS
TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
(in thousands, except ratios)
December 31, 2008 | |||
Net income from continuing operations, less preferred dividends | $ | 24,872 | |
Preferred dividends | 71,426 | ||
Minority interest in earnings of common unitholders | 2,667 | ||
Interest expense | 195,148 | ||
Earnings before fixed charges | $ | 294,113 | |
Interest expense | $ | 195,148 | |
Interest costs capitalized | 53,456 | ||
Total fixed charges | 248,604 | ||
Preferred dividends | 71,426 | ||
Total fixed charges and preferred dividends | $ | 320,030 | |
Ratio of earnings to fixed charges | 1.18 | ||
Ratio of earnings to combined fixed charges and preferred dividends | N/A | ||
N/A – the ratio is less than 1.0; deficit of $25.9 million exists for the year ended December 31, 2008. The calculation of earnings includes $311.3 million of non-cash depreciation expense.