EX-12.1 2 copt09302014ex121.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, 2014
Earnings: |  |
Income from continuing operations before equity in income of unconsolidated entities and income taxes |  | $ | 28,686 |
Gain on sales of real estate, excluding discontinued operations |  | 10,630 |
Combined fixed charges and preferred share dividends (from below) |  | 86,918 |
Amortization of capitalized interest |  | 1,769 |
Distributed income of equity investees |  | 225 |
Subtract: |  |
Capitalized interest (from below) |  | (4,325 | )
Preferred share dividends included in fixed charges |  | (12,387 | )
Preferred unit distributions included in fixed charges |  | (495 | )
Preferred distributions of other consolidated entities |  | (12 | )
Total earnings |  | $ | 111,009 |
Combined Fixed Charges and Preferred Share Dividends: |  |
Combined fixed charges and preferred share dividends: |  |
Interest expense on continuing operations |  | $ | 69,107 |
Capitalized interest (internal and external) |  | 4,325 |
Amortization of debt issuance costs-capitalized |  | 161 |
Interest included in rental expense |  | 431 |
Preferred share dividends |  | 12,387 |
Preferred unit distributions |  | 495 |
Preferred distributions of other consolidated entities |  | 12 |
Total combined fixed charges and preferred share dividends |  | $ | 86,918 |
Ratio of earnings to combined fixed charges and preferred share dividends |  | 1.28 |