1
Exhibit 12
Lexington Corporate Properties Trust
Ratio of earnings to combined fixed charges and preferred dividends
For the year ended December 31,
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2000 1999 1998 1997 1996
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EARNINGS
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Income before extraordinary
items $ 21,952,267 $ 21,346,854 $ 15,737,265 $ 11,781,810 $ 5,465,824
Interest expense 29,581,324 29,098,915 23,054,531 16,644,044 12,817,528
Amortization expense - debt cost 1,066,668 970,720 933,021 822,552 566,142
Equity in earnings from joint
ventures (1,427,506) (60,959) (52,172) (35,836) (12,735)
Cash received from joint
ventures 809,842 3,385 3,385 3,385
---------- ---------- ---------- ---------- ----------
Total $ 51,982,595 $ 51,355,530 $ 39,676,030 $ 29,215,955 $ 18,840,144
========== ========== ========== ========== ==========
FIXED CHARGES
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Interest expense $ 29,581,324 $ 29,098,915 $ 23,054,531 $ 16,644,044 $ 12,817,528
Capitalized interest expense 240,500 -- -- -- --
Preferred stock dividend 2,562,000 2,520,000 2,253,697 916,242 --
Amortization expense - debt cost 1,066,668 970,720 933,021 822,552 566,142
---------- ---------- ---------- ---------- ----------
Total $ 33,450,492 $ 32,589,635 $ 26,241,249 $ 18,382,838 $ 13,383,670
========== ========== ========== ========== ==========
RATIO 1.55 1.58 1.51 1.59 1.41
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