Exhibit 12.2
LEPERCQ CORPORATE INCOME FUND L.P.
and Consolidated Subsidiaries
For the years ended December 31,
($000’s)
RATIO OF EARNINGS TO FIXED CHARGES
and Consolidated Subsidiaries
For the years ended December 31,
($000’s)
RATIO OF EARNINGS TO FIXED CHARGES
Earnings | | | 2017 | | | 2016 | | | 2015 | | | 2014 | | | 2013 | | |||||||||||||||
Income (loss) before provision for income taxes, equity in earnings (losses) of non-consolidated entities and discontinued operations | | | | $ | 3,117 | | | | | $ | (4,173) | | | | | $ | 42,205 | | | | | $ | 40,689 | | | | | $ | 9,321 | | |
Interest expense | | | | | 15,268 | | | | | | 26,039 | | | | | | 27,824 | | | | | | 26,990 | | | | | | 12,488 | | |
Amortization expense – debt cost | | | | | 701 | | | | | | 1,274 | | | | | | 1,445 | | | | | | 1,277 | | | | | | 623 | | |
Cash received from joint ventures | | | | | 408 | | | | | | 324 | | | | | | 150 | | | | | | 15 | | | | | | — | | |
Total | | | | $ | 19,494 | | | | | $ | 23,464 | | | | | $ | 71,624 | | | | | $ | 68,971 | | | | | $ | 22,432 | | |
Fixed charges: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense | | | | $ | 15,268 | | | | | $ | 26,039 | | | | | $ | 27,824 | | | | | $ | 26,990 | | | | | $ | 12,488 | | |
Amortization expense – debt cost | | | | | 701 | | | | | | 1,274 | | | | | | 1,445 | | | | | | 1,277 | | | | | | 623 | | |
Capitalized interest expense | | | | | 596 | | | | | | 954 | | | | | | 152 | | | | | | 60 | | | | | | 46 | | |
Total | | | | $ | 16,565 | | | | | $ | 28,267 | | | | | $ | 29,421 | | | | | $ | 28,327 | | | | | $ | 13,157 | | |
Ratio | | | | | 1.18 | | | | | | N/A | | | | | | 2.43 | | | | | | 2.43 | | | | | | 1.70 | | |
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N/A — Ratio is less than 1.0, deficit of $4,803 exists at December 31, 2016.