Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - FIRST POTOMAC REALTY TRUST | fpo201510-kexx322.htm |
| EX-21 - EXHIBIT 21 - FIRST POTOMAC REALTY TRUST | fpo201510-kex21.htm |
| EX-31.1 - EXHIBIT 31.1 - FIRST POTOMAC REALTY TRUST | fpo201510-kexx311.htm |
| EX-23 - EXHIBIT 23 - FIRST POTOMAC REALTY TRUST | fpo201510-kex23.htm |
| EX-31.2 - EXHIBIT 31.2 - FIRST POTOMAC REALTY TRUST | fpo201510-kexx312.htm |
| 10-K - 10-K - FIRST POTOMAC REALTY TRUST | fpo201510-k.htm |
| EX-32.1 - EXHIBIT 32.1 - FIRST POTOMAC REALTY TRUST | fpo201510-kexx321.htm |
EXHIBIT 12
FIRST POTOMAC REALTY TRUST AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
(Loss) income from continuing operations before income taxes | $ | (34,417 | ) | $ | 15,559 | $ | (10,761 | ) | $ | (28,466 | ) | $ | (16,107 | ) | ||||||
Add (deduct): | ||||||||||||||||||||
Fixed charges | 41,694 | 41,030 | 48,327 | 55,454 | 48,740 | |||||||||||||||
Capitalized interest | (1,864 | ) | (3,233 | ) | (2,457 | ) | (2,416 | ) | (1,882 | ) | ||||||||||
Equity in (earnings) losses of affiliates | (1,825 | ) | (775 | ) | 47 | (40 | ) | (20 | ) | |||||||||||
Distributions from investments in affiliates | 1,490 | 4,431 | 2,064 | 1,796 | 243 | |||||||||||||||
Dividends on preferred shares | (12,400 | ) | (12,400 | ) | (12,400 | ) | (11,964 | ) | (8,467 | ) | ||||||||||
Adjusted earnings | $ | (7,322 | ) | $ | 44,612 | $ | 24,820 | $ | 14,364 | $ | 22,507 | |||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 26,797 | $ | 24,696 | $ | 32,803 | $ | 40,602 | $ | 38,200 | ||||||||||
Rent expense representative of interest factor | 633 | 701 | 667 | 472 | 191 | |||||||||||||||
Capitalized interest | 1,864 | 3,233 | 2,457 | 2,416 | 1,882 | |||||||||||||||
Dividends on preferred shares | 12,400 | 12,400 | 12,400 | 11,964 | 8,467 | |||||||||||||||
Total fixed charges and preferred stock dividends | $ | 41,694 | $ | 41,030 | $ | 48,327 | $ | 55,454 | $ | 48,740 | ||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | — | 1.09 | — | — | — | |||||||||||||||
Deficiency of earnings to fixed charges and preferred stock dividends | $ | (49,016 | ) | $ | — | $ | (23,507 | ) | $ | (41,090 | ) | $ | (26,233 | ) | ||||||