EX-12.1 3 copt06302014ex121.htm EXHIBIT 12.1

COPT 06.30.2014 EX 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