Liberty Property Trust (LPT) 10-Q 2013 Q1 Quarterly report

EXHIBIT 12.1 - 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)
		Three Months Ended March 31, 2013
Earnings before fixed charges:
Income from continuing operations before equity in earnings of unconsolidated subsidiaries and after distribution of earnings from unconsolidated subsidiaries		$	32,442
Add:	Interest expense	30,958
	Depreciation expense on capitalized interest	431
	Amortization of deferred financing costs	976
Earnings before fixed charges		$	64,807
Fixed charges:
Interest expense		$	30,958
Amortization of deferred financing costs		976
Capitalized interest		2,833
Fixed charges		34,767
Preferred unit distributions		1,211
Combined fixed charges		$	35,978
Ratio of earnings to fixed charges		1.86
Ratio of earnings to combined fixed charges		1.80