DUKE REALTY CORP - FORM 10-K - EX-12.1 - STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - March 1, 2010

Attached files

file filename
10-K - FORM 10-K - DUKE REALTY CORPd10k.htm
EX-31.2 - SECTION 302 CFO CERTIFICATION - DUKE REALTY CORPdex312.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION - DUKE REALTY CORPdex322.htm
EX-99.1 - SELECTED QUARTERLY FINANCIAL INFORMATION - DUKE REALTY CORPdex991.htm
EX-23.1 - CONSENT OF KPMG LLP - DUKE REALTY CORPdex231.htm
EX-21.1 - LIST OF THE COMPANY'S SUBSIDIARIES - DUKE REALTY CORPdex211.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION - DUKE REALTY CORPdex321.htm
EX-31.1 - SECTION 302 CEO CERTIFICATION - DUKE REALTY CORPdex311.htm
EX-24.1 - EXECUTED POWERS OF ATTORNEY OF CERTAIN DIRECTORS - DUKE REALTY CORPdex241.htm

EXHIBIT 12.1

DUKE REALTY CORPORATION

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO

COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS

(in thousands, except ratios)

 

    December 31,
2009		     December 31,
2008		     December 31,
2007		   December 31,
2006		   December 31,
2005

Net income (loss) from continuing operations, less preferred dividends

   $ (350,516 )    $ 20,102      $ 106,143   $ 102,764   $ 96,529

Preferred dividends

     73,451        71,426        58,292     56,419     46,479

Interest expense

     220,239        198,449        174,981     170,348     105,882
                                 

Earnings (loss) before fixed charges

   $ (56,826 )    $ 289,977      $ 339,416   $ 329,531   $ 248,890
                                 

Interest expense

   $ 220,239      $ 198,449      $ 174,981   $ 170,348   $ 105,882

Interest costs capitalized

     26,864        53,456        59,167     36,260     9,510
                                 

Total fixed charges

     247,103        251,905        234,148     206,608     115,392

Preferred dividends

     73,451        71,426        58,292     56,419     46,479
                                 

Total fixed charges and preferred dividends

   $ 320,554      $ 323,331      $ 292,440   $ 263,027   $ 161,871
                                 

Ratio of earnings to fixed charges

     N/A (1)      1.15        1.45     1.59     2.16
                                 

Ratio of earnings to fixed charges and preferred dividends

     N/A (2)      N/A (3)      1.16     1.25     1.54
                                 

(1) N/A – the ratio is less than 1.0; deficit of $303.9 million exists for the year ended December 31, 2009. The calculation of earnings includes $339.0 million of non-cash depreciation expense and $302.8 million of impairment.

(2) N/A – the ratio is less than 1.0; deficit of $377.4 million exists for the year ended December 31, 2009. The calculation of earnings includes $339.0 million of non-cash depreciation expense and $302.8 million of impairment.

(3) N/A – the ratio is less than 1.0; deficit of $33.4 million exists for the year ended December 31, 2008. The calculation of earnings includes $308.1 million of non-cash depreciation expense and $18.5 million of impairment.

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