Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - FRANKLIN STREET PROPERTIES CORP /MA/ | fsp-20171231ex322beb237.htm |
| EX-32.1 - EX-32.1 - FRANKLIN STREET PROPERTIES CORP /MA/ | fsp-20171231ex3212807b4.htm |
| EX-31.2 - EX-31.2 - FRANKLIN STREET PROPERTIES CORP /MA/ | fsp-20171231ex312c26fbe.htm |
| EX-31.1 - EX-31.1 - FRANKLIN STREET PROPERTIES CORP /MA/ | fsp-20171231ex311c6280c.htm |
| EX-23.1 - EX-23.1 - FRANKLIN STREET PROPERTIES CORP /MA/ | fsp-20171231ex231652a90.htm |
| EX-21.1 - EX-21.1 - FRANKLIN STREET PROPERTIES CORP /MA/ | fsp-20171231ex21169d5d6.htm |
| 10-K - 10-K - FRANKLIN STREET PROPERTIES CORP /MA/ | fsp-20171231x10k.htm |
Exhibit 12
Franklin Street Properties Corp.
Calculation of Ratios of Earnings to Fixed Charges
Calculation of Ratios of Earnings to Combined Fixed Charges and Preferred Dividends
|
|
|
For the Year Ended |
|
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|
(Dollars in thousands) |
|
2017 |
|
2016 |
|
2015 |
|
2014 |
|
2013 |
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|||||
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Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
|
$ |
(15,944) |
|
$ |
8,378 |
|
$ |
35,014 |
|
$ |
13,148 |
|
$ |
17,294 |
|
|
Provision for income taxes |
|
|
400 |
|
|
418 |
|
|
433 |
|
|
498 |
|
|
480 |
|
|
(Earnings) Loss of equity investees |
|
|
3,604 |
|
|
831 |
|
|
1,451 |
|
|
1,760 |
|
|
1,358 |
|
|
Distributed income of equity investees |
|
|
1,396 |
|
|
1,023 |
|
|
107 |
|
|
107 |
|
|
108 |
|
|
Fixed charges (see below) |
|
|
32,680 |
|
|
26,551 |
|
|
25,432 |
|
|
27,433 |
|
|
21,054 |
|
|
Subtract: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest capitalized |
|
|
(293) |
|
|
(3) |
|
|
— |
|
|
— |
|
|
— |
|
|
Preferred distributions of consolidated subsidiaries |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Earnings |
|
$ |
21,843 |
|
$ |
37,198 |
|
$ |
62,437 |
|
$ |
42,946 |
|
$ |
40,294 |
|
|
Fixed Charges: |
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|
|
|
|
|
|
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
Interest expensed |
|
|
32,387 |
|
|
26,548 |
|
|
25,432 |
|
|
27,433 |
|
|
21,054 |
|
|
Interest capitalized |
|
|
293 |
|
|
3 |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest portion of rent expense which is deemed to be representative of the interest factor |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Fixed Charges |
|
$ |
32,680 |
|
$ |
26,551 |
|
$ |
25,432 |
|
$ |
27,433 |
|
$ |
21,054 |
|
|
Preferred dividends |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Total combined fixed charges and preferred dividends |
|
$ |
32,680 |
|
$ |
26,551 |
|
$ |
25,432 |
|
$ |
27,433 |
|
$ |
21,054 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges |
|
|
0.67 |
|
|
1.40 |
|
|
2.46 |
|
|
1.57 |
|
|
1.91 |
|
|
Ratio of earnings to combined fixed charges and preferred dividends |
|
|
0.67 |
|
|
1.40 |
|
|
2.46 |
|
|
1.57 |
|
|
1.91 |
|