EX-12.1 2 copt09302013ex121.htm EXHIBIT 12.1
EXHIBIT 12.1
Corporate Office Properties Trust
Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends
(Dollars in thousands)

|  | Nine Months Ended
|  | September 30, 2013 |
Earnings: |  |
Income from continuing operations before equity in income of unconsolidated entities and income taxes |  | $ | 8,633 |
Gain on sales of real estate, excluding discontinued operations |  | 2,683 |
Combined fixed charges and preferred share dividends (from below) |  | 90,245 |
Amortization of capitalized interest |  | 1,566 |
Distributed income of equity investees |  | 257 |
Subtract: |  |
Capitalized interest (from below) |  | (6,743 | )
Preferred share dividends included in fixed charges |  | (15,481 | )
Preferred unit distributions included in fixed charges |  | (495 | )
Preferred distributions of other consolidated entities |  | (12 | )
Total earnings |  | $ | 80,653 |
Combined Fixed Charges and Preferred Share Dividends: |  |
Combined fixed charges and preferred share dividends: |  |
Interest expense on continuing operations |  | $ | 66,851 |
Interest expense on discontinued operations |  | 199 |
Capitalized interest (internal and external) |  | 6,743 |
Amortization of debt issuance costs-capitalized |  | 135 |
Interest included in rental expense |  | 329 |
Preferred share dividends |  | 15,481 |
Preferred unit distributions |  | 495 |
Preferred distributions of other consolidated entities |  | 12 |
Total combined fixed charges and preferred share dividends |  | $ | 90,245 |
Ratio of earnings to combined fixed charges and preferred share dividends |  | (A) |
(A) Combined fixed charges and preferred share dividends exceeded total earnings by $9,592.