Exhibit 12. 1
LEXINGTON REALTY TRUST
and Consolidated Subsidiaries
For the years ended December 31,
($000’s)
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED SHARE DIVIDENDS
and Consolidated Subsidiaries
For the years ended December 31,
($000’s)
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED SHARE DIVIDENDS
Earnings | | | 2017 | | | 2016 | | | 2015 | | | 2014 | | | 2013 | | |||||||||||||||
Income (loss) before provision for income taxes, noncontrolling interests, equity in earnings (losses) of non-consolidated entities and discontinued operations | | | | $ | 89,394 | | | | | $ | 90,299 | | | | | $ | 112,025 | | | | | $ | 48,325 | | | | | $ | (17,687) | | |
Interest expense | | | | | 74,184 | | | | | | 83,957 | | | | | | 85,549 | | | | | | 93,297 | | | | | | 82,465 | | |
Amortization expense – debt cost | | | | | 3,699 | | | | | | 4,075 | | | | | | 4,190 | | | | | | 4,006 | | | | | | 3,427 | | |
Cash received from joint ventures | | | | | 403 | | | | | | 815 | | | | | | 2,056 | | | | | | 1,381 | | | | | | 918 | | |
Total | | | | $ | 167,680 | | | | | $ | 179,146 | | | | | $ | 203,820 | | | | | $ | 147,009 | | | | | $ | 69,123 | | |
Fixed charges: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense | | | | $ | 74,184 | | | | | $ | 83,957 | | | | | $ | 85,549 | | | | | $ | 93,297 | | | | | $ | 82,465 | | |
Amortization expense – debt cost | | | | | 3,699 | | | | | | 4,075 | | | | | | 4,190 | | | | | | 4,006 | | | | | | 3,427 | | |
Capitalized interest expense | | | | | 1,174 | | | | | | 4,933 | | | | | | 6,062 | | | | | | 3,424 | | | | | | 2,327 | | |
Preferred share dividends | | | | | 6,290 | | | | | | 6,290 | | | | | | 6,290 | | | | | | 6,290 | | | | | | 9,833 | | |
Total | | | | $ | 85,347 | | | | | $ | 99,255 | | | | | $ | 102,091 | | | | | $ | 107,017 | | | | | $ | 98,052 | | |
Ratio | | | | | 1.96 | | | | | | 1.80 | | | | | | 2.00 | | | | | | 1.37 | | | | | | N/A | | |
|
N/A — Ratio is less than 1.0, deficit of $28,929 at December 31, 2013.
LEXINGTON REALTY TRUST
and Consolidated Subsidiaries
For the years ended December 31,
($000’s)
RATIO OF EARNINGS TO FIXED CHARGES
and Consolidated Subsidiaries
For the years ended December 31,
($000’s)
RATIO OF EARNINGS TO FIXED CHARGES
Earnings | | | 2017 | | | 2016 | | | 2015 | | | 2014 | | | 2013 | | |||||||||||||||
Income (loss) before provision for income taxes, noncontrolling interests, equity in earnings (losses) of non-consolidated entities and discontinued operations | | | | $ | 89,394 | | | | | $ | 90,299 | | | | | $ | 112,025 | | | | | $ | 48,325 | | | | | $ | (17,687) | | |
Interest expense | | | | | 74,184 | | | | | | 83,957 | | | | | | 85,549 | | | | | | 93,297 | | | | | | 82,465 | | |
Amortization expense – debt cost | | | | | 3,699 | | | | | | 4,075 | | | | | | 4,190 | | | | | | 4,006 | | | | | | 3,427 | | |
Cash received from joint ventures | | | | | 403 | | | | | | 815 | | | | | | 2,056 | | | | | | 1,381 | | | | | | 918 | | |
Total | | | | $ | 167,680 | | | | | $ | 179,146 | | | | | $ | 203,820 | | | | | $ | 147,009 | | | | | $ | 69,123 | | |
Fixed charges: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense | | | | $ | 74,184 | | | | | $ | 83,957 | | | | | $ | 85,549 | | | | | $ | 93,297 | | | | | $ | 82,465 | | |
Amortization expense – debt cost | | | | | 3,699 | | | | | | 4,075 | | | | | | 4,190 | | | | | | 4,006 | | | | | | 3,427 | | |
Capitalized interest expense | | | | | 1,174 | | | | | | 4,933 | | | | | | 6,062 | | | | | | 3,424 | | | | | | 2,327 | | |
Total | | | | $ | 79,057 | | | | | $ | 92,965 | | | | | $ | 95,801 | | | | | $ | 100,727 | | | | | $ | 88,219 | | |
Ratio | | | | | 2.12 | | | | | | 1.93 | | | | | | 2.13 | | | | | | 1.46 | | | | | | N/A | | |
|
N/A — Ratio is less than 1.0, deficit of $19,096 at December 31, 2013.