EX-12.2 3 hiw12312011ex122.htm

HIW 12.31.2011 EX.12.2

Exhibit 12.2

HIGHWOODS REALTY LIMITED PARTNERSHIP

RATIO OF EARNINGS TO FIXED CHARGES AND

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED UNIT DISTRIBUTIONS

		2011				2010				2009				2008				2007
Earnings:
Income from continuing operations before equity in earnings of unconsolidated affiliates		$	39,623			$	67,089			$	41,037			$	31,580			$	35,855
Fixed charges		98,024				96,315				92,968				108,271				111,397
Capitalized interest		(589		)		(1,419		)		(4,555		)		(8,312		)		(9,743		)
Distributions of earnings from unconsolidated affiliates		5,005				4,377				4,103				5,978				4,271
Total earnings		$	142,063			$	166,362			$	133,553			$	137,517			$	141,780
Fixed charges and Preferred Unit distributions:
Contractual interest expense		$	91,838			$	87,726			$	81,982			$	92,858			$	93,894
Amortization of deferred financing costs		3,312				3,385				2,760				2,716				2,415
Financing obligations interest expense		849				2,261				2,063				2,918				3,930
Capitalized interest		589				1,419				4,555				8,312				9,743
Interest component of rental expense		1,436				1,524				1,608				1,467				1,415
Total fixed charges		98,024				96,315				92,968				108,271				111,397
Preferred Unit distributions		4,553				6,708				6,708				9,804				13,477
Total fixed charges and Preferred Unit distributions		$	102,577			$	103,023			$	99,676			$	118,075			$	124,874
Ratio of earnings to fixed charges		1.45				1.73				1.44				1.27				1.27
Ratio of earnings to combined fixed charges and Preferred Unit distributions		1.38				1.61				1.34				1.16				1.14