Exhibit 12
LEXINGTON REALTY TRUST
For the year ended December 31,
($000’s)
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
Earnings | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Income (loss) before benefit (provision) for income taxes, non-controlling interest, equity in earnings (losses) of non-consolidated entities, gains on sale-affiliates and discontinued operations | $ | (31,084 | ) | $ | 13,013 | $ | (60,060 | ) | $ | (13,255 | ) | $ | 8,281 | |||||||
Interest expense | 126,788 | 148,524 | 156,309 | 59,087 | 50,115 | |||||||||||||||
Amortization expense — debt cost | 4,841 | 4,380 | 4,338 | 1,573 | 1,204 | |||||||||||||||
Cash received from joint ventures | 20,948 | 28,052 | 17,388 | 22,239 | 14,663 | |||||||||||||||
Total | $ | 121,493 | $ | 193,969 | $ | 117,975 | $ | 69,644 | $ | 74,263 | ||||||||||
Fixed charges | ||||||||||||||||||||
Interest expense | $ | 126,788 | $ | 148,524 | $ | 156,309 | $ | 59,087 | $ | 50,115 | ||||||||||
Amortization expense — debt cost | 4,841 | 4,380 | 4,338 | 1,573 | 1,204 | |||||||||||||||
Capitalized interest expense | 778 | 350 | 277 | 513 | 816 | |||||||||||||||
Preferred stock dividend | 25,281 | 26,915 | 26,733 | 16,435 | 16,435 | |||||||||||||||
Total | $ | 157,688 | $ | 180,169 | $ | 187,657 | $ | 77,608 | $ | 68,570 | ||||||||||
Ratio | N/A | 1.08 | N/A | N/A | 1.08 |
N/A - Ratio is less than 1.0, deficit of $36,195, $69,682 and $7,964 exists at December 31, 2009, 2007 and 2006, respectively.
Including debt satisfaction gains (charges) in the calculations resulted in ratios of earnings to combined fixed charges and preferred dividends for the years ended December 31, 2008 and 2005 of 1.11 and 1.08, respectively.