Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - RECKSON OPERATING PARTNERSHIP LP | ropl-20161231x10xkex322.htm |
| EX-32.1 - EXHIBIT 32.1 - RECKSON OPERATING PARTNERSHIP LP | ropl-20161231x10xkex321.htm |
| EX-31.2 - EXHIBIT 31.2 - RECKSON OPERATING PARTNERSHIP LP | ropl-20161231x10xkex312.htm |
| EX-31.1 - EXHIBIT 31.1 - RECKSON OPERATING PARTNERSHIP LP | ropl-20161231x10xkex311.htm |
| EX-23.1 - EXHIBIT 23.1 - RECKSON OPERATING PARTNERSHIP LP | ropl-20161231x10xkex231.htm |
| EX-21.1 - EXHIBIT 21.1 - RECKSON OPERATING PARTNERSHIP LP | ropl-20161231x10xkex211.htm |
| 10-K - 10-K - RECKSON OPERATING PARTNERSHIP LP | a16q4rop10kdoc.htm |
Exhibit 12.1
Reckson Operating Partnership, L.P
Ratios of Earnings to Fixed Charges
(Dollars in Thousands)
Years Ended December 31, | ||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
Earnings | ||||||||||||||||||||
Income from continuing operations | $ | 305,700 | $ | 263,731 | $ | 193,613 | $ | 208,004 | $ | 92,768 | ||||||||||
Joint venture cash distributions | 34,050 | 37,080 | 106,269 | 23,868 | 596 | |||||||||||||||
Interest | 109,222 | 119,360 | 129,427 | 133,853 | 135,726 | |||||||||||||||
Amortization of interest capitalized | — | 64 | — | — | — | |||||||||||||||
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges | (847 | ) | (1,264 | ) | (1,424 | ) | (1,063 | ) | (1,464 | ) | ||||||||||
Amortization of loan costs expensed | 7,918 | 7,519 | 7,810 | 8,460 | 9,488 | |||||||||||||||
Portion of rent expense representative of interest | 16,728 | 17,246 | 20,731 | 27,227 | 25,610 | |||||||||||||||
Preferred units dividend requirements of consolidated subsidiaries | (3,821 | ) | (1,698 | ) | — | — | — | |||||||||||||
Total earnings | $ | 468,950 | $ | 442,038 | $ | 456,426 | $ | 400,349 | $ | 262,724 | ||||||||||
Fixed Charges | ||||||||||||||||||||
Interest | $ | 109,222 | $ | 119,360 | $ | 129,427 | $ | 133,853 | $ | 135,726 | ||||||||||
Interest capitalized | 1,171 | 1,107 | 3,753 | — | — | |||||||||||||||
Amortization of loan costs expensed | 7,918 | 7,519 | 7,810 | 8,460 | 9,488 | |||||||||||||||
Portion of rent expense representative of interest | 16,728 | 17,246 | 20,731 | 27,227 | 25,610 | |||||||||||||||
Total fixed charges | $ | 135,039 | $ | 145,232 | $ | 161,721 | $ | 169,540 | $ | 170,824 | ||||||||||
Ratio of earnings to combined fixed charges | 3.47 | 3.04 | 2.82 | 2.36 | 1.54 | |||||||||||||||
The ratios of earnings to fixed charges is computed by dividing earnings by fixed charges. For the purpose of calculating the ratios, the earnings have been calculated by adding fixed charges to income from continuing operations before adjustment for noncontrolling interests plus distributions from unconsolidated joint ventures, excluding gains or losses from sale of property and gains and losses on equity investment. With respect to Reckson Operating Partnership, L.P., fixed charges consist of interest expense including the amortization of debt issuance costs and rental expense deemed to represent interest expense.