Exhibit 12.1
Corporate Office Properties Trust
Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends
(Dollars in thousands)
|
| Three months |
| |
Earnings: |
|
|
| |
Income from continuing operations before equity in loss of unconsolidated entities, income taxes and minority interests |
| $ | 9,001 |
|
Gain on sales of real estate, excluding discontinued operations |
| 135 |
| |
Combined fixed charges and preferred share dividends (from below) |
| 25,403 |
| |
Amortization of capitalized interest |
| 107 |
| |
Distributed loss of equity investees |
| (28 | ) | |
Subtract: |
|
|
| |
Capitalized interest (from below) |
| (3,130 | ) | |
Preferred share dividends |
| (3,654 | ) | |
Preferred unit distributions |
| (165 | ) | |
Total earnings |
| $ | 27,669 |
|
|
|
|
| |
|
|
|
| |
Combined fixed charges and preferred share dividends: |
|
|
| |
Interest expense on continuing operations |
| $ | 17,584 |
|
Interest expense on discontinued operations |
| 131 |
| |
Capitalized interest |
| 3,130 |
| |
Amortization of debt issuance costs-expensed |
| 559 |
| |
Amortization of debt issuance costs-capitalized |
| 59 |
| |
Interest included in rental expense |
| 121 |
| |
Preferred share dividends |
| 3,654 |
| |
Preferred unit distributions |
| 165 |
| |
Total combined fixed charges and preferred share dividends |
| $ | 25,403 |
|
|
|
|
| |
Ratio of earnings to combined fixed |
| 1.09 |
|