EXHIBIT 12.1
Corporate Office Properties Trust
Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends
(Dollars in thousands)
|
| | | | |
| | | Nine Months Ended September 30, 2014 |
| | | |
| Earnings: | | |
| Income from continuing operations before equity in income of unconsolidated entities and income taxes | | $ | 28,686 |
|
| Gain on sales of real estate, excluding discontinued operations | | 10,630 |
|
| Combined fixed charges and preferred share dividends (from below) | | 86,918 |
|
| Amortization of capitalized interest | | 1,769 |
|
| Distributed income of equity investees | | 225 |
|
| Subtract: | | |
| Capitalized interest (from below) | | (4,325 | ) |
| Preferred share dividends included in fixed charges | | (12,387 | ) |
| Preferred unit distributions included in fixed charges | | (495 | ) |
| Preferred distributions of other consolidated entities | | (12 | ) |
| Total earnings | | $ | 111,009 |
|
| | | |
| Combined Fixed Charges and Preferred Share Dividends: | | |
| Combined fixed charges and preferred share dividends: | | |
| Interest expense on continuing operations | | $ | 69,107 |
|
| Capitalized interest (internal and external) | | 4,325 |
|
| Amortization of debt issuance costs-capitalized | | 161 |
|
| Interest included in rental expense | | 431 |
|
| Preferred share dividends | | 12,387 |
|
| Preferred unit distributions | | 495 |
|
| Preferred distributions of other consolidated entities | | 12 |
|
| Total combined fixed charges and preferred share dividends | | $ | 86,918 |
|
| | | |
| Ratio of earnings to combined fixed charges and preferred share dividends | | 1.28 |
|
