BRANDYWINE REALTY TRUST - FORM 10-K - EX-12.2 - EXHIBIT 12.2 - March 1, 2010

Attached files

file filename
10-K - FORM 10-K - BRANDYWINE REALTY TRUSTc96837e10vk.htm
EX-21 - EXHIBIT 21 - BRANDYWINE REALTY TRUSTc96837exv21.htm
EX-32.3 - EXHIBIT 32.3 - BRANDYWINE REALTY TRUSTc96837exv32w3.htm
EX-31.3 - EXHIBIT 31.3 - BRANDYWINE REALTY TRUSTc96837exv31w3.htm
EX-23.2 - EXHIBIT 23.2 - BRANDYWINE REALTY TRUSTc96837exv23w2.htm
EX-23.1 - EXHIBIT 23.1 - BRANDYWINE REALTY TRUSTc96837exv23w1.htm
EX-99.1 - EXHIBIT 99.1 - BRANDYWINE REALTY TRUSTc96837exv99w1.htm
EX-23.3 - EXHIBIT 23.3 - BRANDYWINE REALTY TRUSTc96837exv23w3.htm
EX-12.1 - EXHIBIT 12.1 - BRANDYWINE REALTY TRUSTc96837exv12w1.htm
EX-31.4 - EXHIBIT 31.4 - BRANDYWINE REALTY TRUSTc96837exv31w4.htm
EX-32.1 - EXHIBIT 32.1 - BRANDYWINE REALTY TRUSTc96837exv32w1.htm
EX-32.4 - EXHIBIT 32.4 - BRANDYWINE REALTY TRUSTc96837exv32w4.htm
EX-31.2 - EXHIBIT 31.2 - BRANDYWINE REALTY TRUSTc96837exv31w2.htm
EX-32.2 - EXHIBIT 32.2 - BRANDYWINE REALTY TRUSTc96837exv32w2.htm
EX-31.1 - EXHIBIT 31.1 - BRANDYWINE REALTY TRUSTc96837exv31w1.htm
EX-10.41 - EXHIBIT 10.41 - BRANDYWINE REALTY TRUSTc96837exv10w41.htm
EX-3.1.26 - EXHIBIT 3.1.26 - BRANDYWINE REALTY TRUSTc96837exv3w1w26.htm
Exhibit 12.2
Brandywine Operating Partnership, L.P.
Computation of Ratio of Earnings to Combined Fixed Charges
(in thousands)
                                         
    For the years ended December 31,    
    2009     2008     2007     2006     2005  
Earnings before fixed charges:
                                        
Add:
                                        
Income (loss) from continuing operations before non-controlling interest and equity in earnings from unconsolidated real estate ventures (a)
   $ 1,579     $ (7,025 )   $ 2,378     $ (39,585 )   $ 20,522  
Distributed income of equity investees
     1,557       7,639       6,900       2,150       2,403  
Amortization of capitalized interest
     3,166       2,801       2,170       1,508       1,183  
Fixed charges — per below
     152,098       170,589       185,308       182,012       82,521  
Less:
                                        
Capitalized interest
     (8,865 )     (16,746 )     (17,885 )     (9,537 )     (9,603 )
 
                              
 
                                        
Earnings before fixed charges
   $ 149,535     $ 157,258     $ 178,871     $ 136,548     $ 98,929  
 
                              
 
                                        
Fixed charges:
                                        
Interest expense from continuing operations (including amortization)
   $ 141,604     $ 152,096     $ 165,647     $ 171,164     $ 73,920  
Ground leases and other
     1,629       1,747       1,776       1,311       901  
Capitalized interest
     8,865       16,746       17,885       9,537       9,603  
 
                              
Total Fixed Charges
     152,098       170,589       185,308       182,012       84,424  
 
                                        
Ratio of earnings to combined fixed charges
     (b )      (b )      (b )      (b )      1.17  
 
                              
     
(a)   Amounts for the years ended December 31, 2009, 2008, 2007, 2006 and 2005 have been reclassified to present properties sold. As a result, operations have been reclassified to discontinued operations from continuing operations for all periods presented. Amounts for the years ended December 31, 2008, 2007 and 2006 were restated as a result of the retrospective adoption of the accounting standard for convertible debt.
 
(b)   Due to the registrant’s loss in the period, the coverage ratio was less than 1:1. The registrant must generate additional earnings of $2,563 for the year ended December 31, 2009, $13,331 for the year ended December 31, 2008, $6,437 for the year ended December 31, 2007, and $45,464 for the year ended December 31, 2006 to achieve a coverage ratio of 1:1.

 

 

Stock widget

Investing forum

BRANDYWINE REALTY TRUST Reports