Exhibit 12.2
Lexington Realty Trust
Ratio of earnings to combined fixed charges and preferred share dividends
Ratio of earnings to combined fixed charges and preferred share dividends
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 | 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 | |||||||||||||||
Capitalized interest expense | 229 | 277 | 513 | 816 | 225 | 142 | ||||||||||||||||||
Preferred share dividends | 20,287 | 26,733 | 16,435 | 16,435 | 6,945 | 3,392 | ||||||||||||||||||
Total | $ | 102,015 | $ | 191,847 | $ | 74,817 | $ | 69,019 | $ | 43,674 | $ | 32,137 | ||||||||||||
Ratio | 1.10 | 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. |