Exhibit 12.2
HIGHWOODS REALTY LIMITED PARTNERSHIP
RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED
CHARGES AND PREFERRED UNIT DIVIDENDS
(Dollars in thousands)
Six Months June 30, 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | |||||||
Earnings: | ||||||||||||
Income from continuing operations | 15,005 | 74,527 | 126,329 | 135,242 | 152,854 | 140,433 | ||||||
Interest expense | 55,260 | 108,503 | 102,468 | 106,283 | 108,562 | 91,361 | ||||||
Amortization of deferred financing costs | 1,383 | 1,394 | 2,005 | 2,512 | 2,823 | 2,598 | ||||||
Total earnings | 71,648 | 184,424 | 230,802 | 244,037 | 264,239 | 234,392 | ||||||
Fixed charges and preferred unit dividends: | ||||||||||||
Interest expense | 55,260 | 108,503 | 102,468 | 106,283 | 108,562 | 91,361 | ||||||
Interest capitalized | 715 | 7,017 | 16,947 | 23,669 | 29,147 | 17,968 | ||||||
Amortization of loan costs | 1,383 | 1,394 | 2,005 | 2,512 | 2,823 | 2,598 | ||||||
Total fixed charges | 57,358 | 116,914 | 121,420 | 132,464 | 140,532 | 111,927 | ||||||
Preferred unit dividends | 15,426 | 30,852 | 31,500 | 32,580 | 32,580 | 30,092 | ||||||
Total fixed charges and preferred unit dividends | 72,784 | 147,766 | 152,920 | 165,044 | 173,112 | 142,019 | ||||||
Ratio of earnings to fixed charges | 1.25 | 1.58 | 1.90 | 1.84 | 1.88 | 2.09 | ||||||
Ratio of earnings to combined fixed charges and preferred unit dividends | 0.98 | 1.25 | 1.51 | 1.48 | 1.53 | 1.65 |