Exhibit 12.2
HRPT PROPERTIES TRUST
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS
(dollars in thousands)
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| Year Ended December 31, |
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| 2007 |
| 2006 (1) |
| 2005 (1) |
| 2004 (1) |
| 2003 (1) |
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Earnings: |
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Income from continuing operations |
| $ | 94,320 |
| $ | 221,910 |
| $ | 127,213 |
| $ | 138,942 |
| $ | 95,210 |
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Equity in earnings and gains (losses) on equity transactions of equity investments |
| — |
| (119,423 | ) | (26,115 | ) | (45,443 | ) | (23,525 | ) | |||||
Fixed charges before preferred distributions |
| 171,459 |
| 165,903 |
| 143,663 |
| 118,212 |
| 101,144 |
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Distributions from equity investments |
| — |
| 5,387 |
| 22,646 |
| 24,572 |
| 27,404 |
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Capitalized interest |
| (489 | ) | (335 | ) | — |
| — |
| — |
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Adjusted Earnings |
| $ | 265,290 |
| $ | 273,442 |
| $ | 267,407 |
| $ | 236,283 |
| $ | 200,233 |
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Fixed Charges and Preferred Distributions: |
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Interest expense (including amortization of debt discounts, premiums and deferred financing fees) |
| $ | 170,970 |
| $ | 165,568 |
| $ | 143,663 |
| $ | 118,212 |
| $ | 101,144 |
|
Capitalized interest |
| 489 |
| 335 |
| — |
| — |
| — |
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Preferred distributions |
| 60,572 |
| 44,692 |
| 46,000 |
| 46,000 |
| 46,000 |
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Combined Fixed Charges and Preferred Distributions |
| $ | 232,031 |
| $ | 210,595 |
| $ | 189,663 |
| $ | 164,212 |
| $ | 147,144 |
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Ratio of Earnings to Combined Fixed Charges and Preferred Distributions |
| 1.1 | x | 1.3 | x | 1.4 | x | 1.4 | x | 1.4 | x | |||||
(1) Reclassifications have been made to the prior years’ financial statements to conform to the current year’s presentation.
