Exhibit 12.1
Mack-Cali Realty, L.P.
Calculation of Ratios of Earnings to Fixed Charges
(Dollar Amounts in Thousands)
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| Six Months ended |
| For the Year Ended December 31, |
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| June 30, 2009 |
| 2008 |
| 2007 |
| 2006 |
| 2005 |
| 2004 |
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EARNINGS: |
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ADD: |
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Income from continuing operations before noncontrolling interest and equity in earnings of unconsolidated joint ventures |
| $ | 46,258 |
| $ | 104,631 |
| $ | 94,530 |
| $ | 110,138 |
| $ | 92,051 |
| $ | 107,277 |
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Fixed Charges (see calculation below) |
| 67,270 |
| 134,178 |
| 132,609 |
| 142,648 |
| 125,057 |
| 114,218 |
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Distributed income of unconsolidated joint ventures |
| 2,131 |
| 5,784 |
| 1,875 |
| 2,302 |
| — |
| 1,411 |
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SUBTRACT: |
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Capitalized interest |
| (845 | ) | (5,799 | ) | (5,101 | ) | (6,058 | ) | (5,518 | ) | (3,920 | ) | ||||||
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TOTAL EARNINGS: |
| $ | 114,814 |
| $ | 238,794 |
| $ | 223,913 |
| $ | 249,030 |
| $ | 211,590 |
| $ | 218,986 |
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FIXED CHARGES: |
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Interest expense (includes amortization of deferred financing costs) |
| $ | 66,302 |
| $ | 128,145 |
| $ | 127,287 |
| $ | 136,357 |
| $ | 119,337 |
| $ | 110,104 |
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Capitalized interest |
| 845 |
| 5,799 |
| 5,101 |
| 6,058 |
| 5,518 |
| 3,920 |
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Interest portion (33 percent) of ground rents on land leases |
| 123 |
| 234 |
| 221 |
| 233 |
| 202 |
| 194 |
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TOTAL FIXED CHARGES |
| $ | 67,270 |
| $ | 134,178 |
| $ | 132,609 |
| $ | 142,648 |
| $ | 125,057 |
| $ | 114,218 |
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RATIO OF EARNINGS TO FIXED CHARGES |
| 1.7 |
| 1.8 |
| 1.7 |
| 1.7 |
| 1.7 |
| 1.9 |
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