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10-Q - 10-Q - OFFICE PROPERTIES INCOME TRUSTgov-20150630x10q.htm
EX-3.3 - EX-3.3 - OFFICE PROPERTIES INCOME TRUSTgov-20150630ex33b461b58.htm
EX-3.2 - EX-3.2 - OFFICE PROPERTIES INCOME TRUSTgov-20150630ex32b057dce.htm
EX-31.3 - EX-31.3 - OFFICE PROPERTIES INCOME TRUSTgov-20150630ex3136ebadd.htm
EX-31.4 - EX-31.4 - OFFICE PROPERTIES INCOME TRUSTgov-20150630ex314c3e12b.htm
EX-31.1 - EX-31.1 - OFFICE PROPERTIES INCOME TRUSTgov-20150630ex311981d1e.htm
EX-31.2 - EX-31.2 - OFFICE PROPERTIES INCOME TRUSTgov-20150630ex312cdb2fd.htm
EX-32.1 - EX-32.1 - OFFICE PROPERTIES INCOME TRUSTgov-20150630ex321a92d03.htm

Exhibit 12.1

GOVERNMENT PROPERTIES INCOME TRUST

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(IN THOUSANDS, EXCEPT RATIO AMOUNTS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months
Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

Year Ended December 31,

 

 

    

2015

    

2014

    

2013

    

2012

    

2011

    

2010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations (including gain on sale of properties, if any) before income tax expense and equity in earnings (losses) of investees

 

$

(229,870)

 

$

42,243

 

$

55,308

 

$

48,903

 

$

42,255

 

$

24,018

 

Distributions of earnings from equity investees

 

 

10,425

 

 

17,046

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Fixed charges

 

 

18,757

 

 

28,048

 

 

16,831

 

 

16,892

 

 

12,057

 

 

7,351

 

Adjusted Earnings

 

$

(200,688)

 

$

87,337

 

$

72,139

 

$

65,795

 

$

54,312

 

$

31,369

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness and amortization of deferred finance costs and debt discounts

 

$

18,757

 

$

28,048

 

$

16,831

 

$

16,892

 

$

12,057

 

$

7,351

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

-10.7x

(1)

 

3.1x

 

 

4.3x

 

 

3.9x

 

 

4.5x

 

 

4.3x

 

 

(1)The deficiency for this period was approximately $219.4 million