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) | |||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||
Earnings: | |||||||||||||||||||||
Income from continuing operations before equity in earnings of unconsolidated subsidiaries and after distribution of earnings from unconsolidated subsidiaries | $ | 180,598 | $ | 106,306 | $ | 104,061 | $ | 113,064 | $ | 100,796 | |||||||||||
Add: | Interest expense | 147,094 | 123,485 | 99,283 | 97,809 | 107,255 | |||||||||||||||
Depreciation expense on capitalized interest | 1,849 | 1,800 | 1,639 | 1,622 | 1,678 | ||||||||||||||||
Amortization of deferred financing costs | 4,793 | 3,630 | 4,080 | 4,179 | 4,882 | ||||||||||||||||
Earnings | $ | 334,334 | $ | 235,221 | $ | 209,063 | $ | 216,674 | $ | 214,611 | |||||||||||
Fixed charges: | |||||||||||||||||||||
Interest expense | $ | 147,094 | $ | 123,485 | $ | 99,283 | $ | 97,809 | $ | 107,255 | |||||||||||
Amortization of deferred financing charges | 4,793 | 3,630 | 4,080 | 4,179 | 4,882 | ||||||||||||||||
Capitalized interest | 13,196 | 9,618 | 9,919 | 3,011 | 929 | ||||||||||||||||
Fixed charges | 165,083 | 136,733 | 113,282 | 104,999 | 113,066 | ||||||||||||||||
Preferred unit distributions | 472 | 2,119 | 9,902 | 21,069 | 21,012 | ||||||||||||||||
Combined fixed charges | $ | 165,555 | $ | 138,852 | $ | 123,184 | $ | 126,068 | $ | 134,078 | |||||||||||
Ratio of earnings to fixed charges | 2.03 | 1.72 | 1.85 | 2.06 | 1.90 | ||||||||||||||||
Ratio of earnings to combined fixed charges | 2.02 | 1.69 | 1.70 | 1.72 | 1.60 |
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10-K Filing
Liberty Property Trust (LPT) Inactive 10-K2014 FY Annual report
Filed: 26 Feb 15, 12:00am