Exhibit 12.2
HIGHWOODS REALTY LIMITED PARTNERSHIP
RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED UNIT DISTRIBUTIONS
2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income from continuing operations before equity in earnings of unconsolidated affiliates | $ | 39,623 | $ | 67,089 | $ | 41,037 | $ | 31,580 | $ | 35,855 | ||||||||||
Fixed charges | 98,024 | 96,315 | 92,968 | 108,271 | 111,397 | |||||||||||||||
Capitalized interest | (589 | ) | (1,419 | ) | (4,555 | ) | (8,312 | ) | (9,743 | ) | ||||||||||
Distributions of earnings from unconsolidated affiliates | 5,005 | 4,377 | 4,103 | 5,978 | 4,271 | |||||||||||||||
Total earnings | $ | 142,063 | $ | 166,362 | $ | 133,553 | $ | 137,517 | $ | 141,780 | ||||||||||
Fixed charges and Preferred Unit distributions: | ||||||||||||||||||||
Contractual interest expense | $ | 91,838 | $ | 87,726 | $ | 81,982 | $ | 92,858 | $ | 93,894 | ||||||||||
Amortization of deferred financing costs | 3,312 | 3,385 | 2,760 | 2,716 | 2,415 | |||||||||||||||
Financing obligations interest expense | 849 | 2,261 | 2,063 | 2,918 | 3,930 | |||||||||||||||
Capitalized interest | 589 | 1,419 | 4,555 | 8,312 | 9,743 | |||||||||||||||
Interest component of rental expense | 1,436 | 1,524 | 1,608 | 1,467 | 1,415 | |||||||||||||||
Total fixed charges | 98,024 | 96,315 | 92,968 | 108,271 | 111,397 | |||||||||||||||
Preferred Unit distributions | 4,553 | 6,708 | 6,708 | 9,804 | 13,477 | |||||||||||||||
Total fixed charges and Preferred Unit distributions | $ | 102,577 | $ | 103,023 | $ | 99,676 | $ | 118,075 | $ | 124,874 | ||||||||||
Ratio of earnings to fixed charges | 1.45 | 1.73 | 1.44 | 1.27 | 1.27 | |||||||||||||||
Ratio of earnings to combined fixed charges and Preferred Unit distributions | 1.38 | 1.61 | 1.34 | 1.16 | 1.14 |