EXHIBIT 12 - STATEMENT RE: COMPUTATION OF RATIO | |||||||||||||||||||||
OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||||
AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES | |||||||||||||||||||||
LIBERTY PROPERTY TRUST / LIBERTY PROPERTY LIMITED PARTNERSHIP | |||||||||||||||||||||
(Amounts in thousands except ratio amounts) | |||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||
Earnings before fixed charges: | |||||||||||||||||||||
Income before allocation of noncontrolling interest | |||||||||||||||||||||
and income from investments in unconsolidated | |||||||||||||||||||||
subsidiaries | $ | 148,266 | $ | 135,517 | $ | 148,001 | $ | 122,802 | $ | 117,765 | |||||||||||
Add: | Interest expense | 117,018 | 128,612 | 129,336 | 132,443 | 108,716 | |||||||||||||||
Depreciation expense on capitalized interest | 1,622 | 1,678 | 1,607 | 1,245 | 5,393 | ||||||||||||||||
Amortization of deferred | |||||||||||||||||||||
financing costs | 5,000 | 5,772 | 4,661 | 3,981 | 3,978 | ||||||||||||||||
Earnings before fixed charges | $ | 271,906 | $ | 271,579 | $ | 283,605 | $ | 260,471 | $ | 235,852 | |||||||||||
Fixed charges: | |||||||||||||||||||||
Interest expense | $ | 117,018 | $ | 128,612 | $ | 129,336 | $ | 132,443 | $ | 108,716 | |||||||||||
Amortization of deferred financing charges | 5,000 | 5,772 | 4,661 | 3,981 | 3,978 | ||||||||||||||||
Capitalized interest | 3,011 | 929 | 7,640 | 19,958 | 45,697 | ||||||||||||||||
Fixed charges | 125,029 | 135,313 | 141,637 | 156,382 | 158,391 | ||||||||||||||||
Preferred unit distributions | 21,069 | 21,012 | 21,012 | 21,012 | 17,126 | ||||||||||||||||
Combined fixed charges | $ | 146,098 | $ | 156,325 | $ | 162,649 | $ | 177,394 | $ | 175,517 | |||||||||||
Ratio of earnings to fixed charges | 2.17 | 2.01 | 2.00 | 1.67 | 1.49 | ||||||||||||||||
Ratio of earnings to combined fixed charges | 1.86 | 1.74 | 1.74 | 1.47 | 1.34 |
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10-K Filing
Liberty Property Trust (LPT) Inactive 10-K2011 FY Annual report
Filed: 24 Feb 12, 12:00am