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
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income from continuing operations before equity in earnings of unconsolidated affiliates | $ | 113,761 | $ | 60,459 | $ | 35,278 | $ | 26,007 | $ | 51,304 | ||||||||||
Fixed charges | 94,614 | 98,240 | 98,647 | 97,535 | 95,894 | |||||||||||||||
Capitalized interest | (5,310 | ) | (2,731 | ) | (1,031 | ) | (589 | ) | (1,419 | ) | ||||||||||
Distributions of earnings from unconsolidated affiliates | 2,687 | 3,965 | 4,592 | 5,005 | 4,377 | |||||||||||||||
Total earnings | $ | 205,752 | $ | 159,933 | $ | 137,486 | $ | 127,958 | $ | 150,156 | ||||||||||
Fixed charges and Preferred Unit distributions: | ||||||||||||||||||||
Contractual interest expense | $ | 82,287 | $ | 88,838 | $ | 92,838 | $ | 91,458 | $ | 87,409 | ||||||||||
Amortization of deferred financing costs | 3,082 | 3,802 | 3,685 | 3,312 | 3,385 | |||||||||||||||
Financing obligations interest expense/(income) | 483 | 63 | (409 | ) | 740 | 2,157 | ||||||||||||||
Capitalized interest | 5,310 | 2,731 | 1,031 | 589 | 1,419 | |||||||||||||||
Interest component of rental expense | 3,452 | 2,806 | 1,502 | 1,436 | 1,524 | |||||||||||||||
Total fixed charges | 94,614 | 98,240 | 98,647 | 97,535 | 95,894 | |||||||||||||||
Preferred Unit distributions | 2,507 | 2,508 | 2,508 | 4,553 | 6,708 | |||||||||||||||
Total fixed charges and Preferred Unit distributions | $ | 97,121 | $ | 100,748 | $ | 101,155 | $ | 102,088 | $ | 102,602 | ||||||||||
Ratio of earnings to fixed charges | 2.17 | 1.63 | 1.39 | 1.31 | 1.57 | |||||||||||||||
Ratio of earnings to combined fixed charges and Preferred Unit distributions | 2.12 | 1.59 | 1.36 | 1.25 | 1.46 |