EX-12.1 3 copt06302014ex121.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)

|  | Six Months Ended June 30, 2014
Earnings: |  |
Income from continuing operations before equity in income of unconsolidated entities and income taxes |  | $ | 15,051 |
Combined fixed charges and preferred share dividends (from below) |  | 56,977 |
Amortization of capitalized interest |  | 1,162 |
Distributed income of equity investees |  | 53 |
Subtract: |  |
Capitalized interest (from below) |  | (3,011 | )
Preferred share dividends included in fixed charges |  | (8,834 | )
Preferred unit distributions included in fixed charges |  | (330 | )
Preferred distributions of other consolidated entities |  | (8 | )
Total earnings |  | $ | 61,060 |
Combined Fixed Charges and Preferred Share Dividends: |  |
Combined fixed charges and preferred share dividends: |  |
Interest expense on continuing operations |  | $ | 44,305 |
Capitalized interest (internal and external) |  | 3,011 |
Amortization of debt issuance costs-capitalized |  | 161 |
Interest included in rental expense |  | 328 |
Preferred share dividends |  | 8,834 |
Preferred unit distributions |  | 330 |
Preferred distributions of other consolidated entities |  | 8 |
Total combined fixed charges and preferred share dividends |  | $ | 56,977 |
Ratio of earnings to combined fixed charges and preferred share dividends |  | 1.07 |