Attached files
| file | filename |
|---|---|
| EX-21 - EXHIBIT 21 - Hudson Pacific Properties, Inc. | a201410kex21.htm |
| EX-31.4 - EXHIBIT 31.4 - Hudson Pacific Properties, Inc. | a201410kex314.htm |
| EX-32.2 - EXHIBIT 32.2 - Hudson Pacific Properties, Inc. | a201410kex322.htm |
| EX-31.2 - EXHIBIT 31.2 - Hudson Pacific Properties, Inc. | a201410kex312.htm |
| EX-23.1 - EXHIBIT 23.1 - Hudson Pacific Properties, Inc. | a201410kex231.htm |
| EX-31.3 - EXHIBIT 31.3 - Hudson Pacific Properties, Inc. | a201410kex313.htm |
| EX-31.1 - EXHIBIT 31.1 - Hudson Pacific Properties, Inc. | a201410kex311.htm |
| EX-32.1 - EXHIBIT 32.1 - Hudson Pacific Properties, Inc. | a201410kex321.htm |
| 10-K - 10-K - Hudson Pacific Properties, Inc. | a201410k.htm |
| EX-10.84 - EXHIBIT 10.84 - Hudson Pacific Properties, Inc. | ex1084_indemnificationagre.htm |
Exhibit 12.1
HUDSON PACIFIC PROPERTIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED DIVIDENDS
(Unaudited; in thousands, except ratios)
Consolidated | Historical Combined | ||||||||||||||||||
For the year ended December 31, | |||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Earnings Available for Fixed Charges | |||||||||||||||||||
and Preferred Dividends: | |||||||||||||||||||
Net loss | $ | 23,522 | $ | (2,594 | ) | $ | (5,006 | ) | $ | (2,238 | ) | $ | (2,682 | ) | |||||
Plus fixed charges: | |||||||||||||||||||
Interest expense (including amortization of loan fees) | $ | 25,932 | $ | 25,470 | $ | 19,071 | $ | 17,480 | $ | 8,831 | |||||||||
Capitalized interest and loan fees | 6,938 | 4,562 | 1,461 | 189 | 165 | ||||||||||||||
Estimate of interest within rental expense | 174 | 144 | 153 | 124 | 46 | ||||||||||||||
Fixed Charges | $ | 33,044 | $ | 30,176 | $ | 20,685 | $ | 17,793 | $ | 9,042 | |||||||||
Plus: | |||||||||||||||||||
Amortization of capitalized interest | $ | 232 | $ | 115 | $ | 73 | $ | 73 | $ | 73 | |||||||||
Less: | |||||||||||||||||||
Capitalized interest and loan fees | (6,938 | ) | (4,562 | ) | (1,461 | ) | (189 | ) | (165 | ) | |||||||||
Earnings | $ | 49,860 | $ | 23,135 | $ | 14,291 | $ | 15,439 | $ | 6,268 | |||||||||
Combined Fixed Charges and | |||||||||||||||||||
Preferred Dividends: | |||||||||||||||||||
Fixed charges (from above) | $ | 33,044 | $ | 30,176 | $ | 20,685 | $ | 17,793 | $ | 9,042 | |||||||||
Preferred dividends | 12,785 | 12,924 | 12,924 | 8,108 | 817 | ||||||||||||||
Combined fixed charges and preferred dividends: | $ | 45,829 | $ | 43,100 | $ | 33,609 | $ | 25,901 | $ | 9,859 | |||||||||
Ratio of earnings to combined fixed charges and preferred dividends | 1.09 | 0.54 | 0.43 | 0.60 | 0.64 | ||||||||||||||
Deficiency | $ | — | $ | 19,919 | $ | 19,318 | $ | 10,462 | $ | 3,591 | |||||||||