Exhibit 12.1
LEXINGTON REALTY TRUST
and Consolidated Subsidiaries
($000's)
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
| For the six months ended June 30, | For the years ended December 31, | |||||||||||||||||||||||
| Earnings | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||
| Income (loss) before benefit (provision) for income taxes, noncontrolling interests, equity in earnings (losses) of non-consolidated entities, gain on acquisition and discontinued operations | $ | 82,613 | $ | 48,325 | $ | (17,687 | ) | $ | (4,356 | ) | $ | (23,341 | ) | $ | (20,308 | ) | ||||||||
| Interest expense | 44,114 | 93,297 | 82,465 | 81,010 | 86,995 | 95,301 | ||||||||||||||||||
| Amortization expense - debt cost | 2,228 | 4,006 | 3,427 | 3,240 | 3,596 | 5,083 | ||||||||||||||||||
| Cash received from joint ventures | 966 | 1,381 | 918 | 7,498 | 11,689 | 4,590 | ||||||||||||||||||
| Total | $ | 129,921 | $ | 147,009 | $ | 69,123 | $ | 87,392 | $ | 78,939 | $ | 84,666 | ||||||||||||
| Fixed charges: | ||||||||||||||||||||||||
| Interest expense | $ | 44,114 | $ | 93,297 | $ | 82,465 | $ | 81,010 | $ | 86,995 | $ | 95,301 | ||||||||||||
| Amortization expense - debt cost | 2,228 | 4,006 | 3,427 | 3,240 | 3,596 | 5,083 | ||||||||||||||||||
| Capitalized interest expense | 2,930 | 3,424 | 2,327 | 2,916 | 1,769 | 760 | ||||||||||||||||||
| Preferred stock dividends | 3,145 | 6,290 | 9,833 | 20,291 | 24,507 | 24,872 | ||||||||||||||||||
| Total | $ | 52,417 | $ | 107,017 | $ | 98,052 | $ | 107,457 | $ | 116,867 | $ | 126,016 | ||||||||||||
| Ratio | 2.48 | 1.37 | N/A | N/A | N/A | N/A | ||||||||||||||||||
N/A - Ratio is less than 1.0, deficit of $28,929, $20,065, $37,928 and $41,350 exists at December 31, 2013, 2012, 2011 and 2010, respectively.
