Exhibit 12.1
Lexington Realty Trust
Ratio of earnings to fixed charges
Ratio of earnings to fixed charges
For the year ended December 31, | ||||||||||||||||||||||||
($000’s) | ||||||||||||||||||||||||
Nine months | ||||||||||||||||||||||||
ended | ||||||||||||||||||||||||
September | ||||||||||||||||||||||||
30, 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||||||
Earnings | ||||||||||||||||||||||||
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 | $ | 3,864 | $ | (74,392 | ) | $ | (11,794 | ) | $ | 12,918 | $ | 22,389 | $ | 11,963 | ||||||||||
Interest expense | 116,935 | 159,098 | 63,451 | 54,897 | 35,533 | 24,832 | ||||||||||||||||||
Amortization expense – debt cost | 3,584 | 4,530 | 1,646 | 1,280 | 915 | 777 | ||||||||||||||||||
Debt satisfaction charges (gains) | (39,020 | ) | 1,209 | (7,228 | ) | (4,409 | ) | 56 | 2,994 | |||||||||||||||
Cash received from joint ventures | 26,575 | 17,388 | 22,239 | 14,663 | 5,294 | 8,128 | ||||||||||||||||||
Total | $ | 111,938 | $ | 107,833 | $ | 68,314 | $ | 79,349 | $ | 64,187 | $ | 48,694 | ||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest expense | $ | 116,935 | $ | 159,098 | $ | 63,451 | $ | 54,897 | $ | 35,533 | $ | 24,832 | ||||||||||||
Amortization expense – debt cost | 3584 | 4,530 | 1,646 | 1,280 | 915 | 777 | ||||||||||||||||||
Debt satisfaction charges (gains) | (39,020 | ) | 1,209 | (7,228 | ) | (4,409 | ) | 56 | 2,994 | |||||||||||||||
Capitalized interest expense | 229 | 277 | 513 | 816 | 225 | 142 | ||||||||||||||||||
Total | $ | 81,728 | $ | 165,114 | $ | 58,382 | $ | 52,584 | $ | 36,729 | $ | 28,745 | ||||||||||||
Ratio | 1.37 | N/A | 1.17 | 1.51 | 1.75 | 1.69 | ||||||||||||||||||
N/A | – Ratio is less than 1.0, deficit of $57,281 exists at December 31, 2007. |