Exhibit 12
LEXINGTON REALTY TRUST
For the year ended December 31,
($000’s)
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
For the year ended December 31,
($000’s)
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
Earnings | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||
Income (loss) before benefit (provision) for income taxes, minority interest, equity in earnings of non-consolidated entities, gains on sale of properties-affiliate and discontinued operations | $ | (74,392 | ) | $ | (11,794 | ) | $ | 12,918 | $ | 22,389 | $ | 11,963 | ||||||||
Interest expense | 159,098 | 63,451 | 54,897 | 35,533 | 24,832 | |||||||||||||||
Amortization expense — debt cost | 4,530 | 1,646 | 1,280 | 915 | 777 | |||||||||||||||
Debt satisfaction charges (gains) | 1,209 | (7,228 | ) | (4,409 | ) | 56 | 2,994 | |||||||||||||
Cash received from joint ventures | 17,388 | 22,239 | 14,663 | 5,294 | 8,128 | |||||||||||||||
Total | $ | 107,833 | $ | 68,314 | $ | 79,349 | $ | 64,187 | $ | 48,694 | ||||||||||
Fixed charges | ||||||||||||||||||||
Interest expense | $ | 159,098 | $ | 63,451 | $ | 54,897 | $ | 35,533 | $ | 24,832 | ||||||||||
Amortization expense — debt cost | 4,530 | 1,646 | 1,280 | 915 | 777 | |||||||||||||||
Debt satisfaction charges (gains) | 1,209 | (7,228 | ) | (4,409 | ) | 56 | 2,994 | |||||||||||||
Capitalized interest expense | 277 | 513 | 816 | 225 | 142 | |||||||||||||||
Preferred stock dividend | 26,733 | 16,435 | 16,435 | 6,945 | 3,392 | |||||||||||||||
Total | $ | 191,847 | $ | 74,817 | $ | 69,019 | $ | 43,674 | $ | 32,137 | ||||||||||
Ratio | N/A | N/A | 1.15 | 1.47 | 1.52 | |||||||||||||||
N/A — Ratio is less than 1.0, deficit of $84,014 and $6,503 exists at December 31, 2007 and 2006, respectively.