EX-12.1 3 copt03312015ex121.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)

|  | Three Months Ended
|  | March 31, 2015
Earnings: |  |
Income from continuing operations before equity in income of unconsolidated entities and income taxes |  | $ | 11,017 |
Gain on sales of real estate, excluding discontinued operations |  | 3,986 |
Combined fixed charges and preferred share dividends (from below) |  | 26,834 |
Amortization of capitalized interest |  | 629 |
Subtract: |  |
Capitalized interest (from below) |  | (2,132 | )
Preferred share dividends included in fixed charges |  | (3,552 | )
Preferred unit distributions included in fixed charges |  | (165 | )
Preferred distributions of other consolidated entities |  | (4 | )
Total earnings |  | $ | 36,613 |
Combined Fixed Charges and Preferred Share Dividends: |  |
Combined fixed charges and preferred share dividends: |  |
Interest expense on continuing operations |  | $ | 20,838 |
Capitalized interest (internal and external) |  | 2,132 |
Amortization of debt issuance costs-capitalized |  | 8 |
Interest included in rental expense |  | 135 |
Preferred share dividends |  | 3,552 |
Preferred unit distributions |  | 165 |
Preferred distributions of other consolidated entities |  | 4 |
Total combined fixed charges and preferred share dividends |  | $ | 26,834 |
Ratio of earnings to combined fixed charges and preferred share dividends |  | 1.36 |