MPG Office Trust, Inc. - FORM 10-K - EX-12.1 - STATEMENT OF COMPUTATION OF RATIO OF EARNINGS - March 31, 2010

Attached files

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10-K - FORM 10-K - MPG Office Trust, Inc.d10k.htm
EX-31.2 - SECTION 302 CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER - MPG Office Trust, Inc.dex312.htm
EX-3.2 - ARTICLES SUPPLEMENTARY OF MAGUIRE PROPERTIES, INC. - MPG Office Trust, Inc.dex32.htm
EX-21.1 - LIST OF SUBSIDIARIES OF THE REGISTRANT - MPG Office Trust, Inc.dex211.htm
EX-32.1 - SECTION 906 CERTIFICATION OF PRINCIPAL EXECUTIVE AND FINANCIAL OFFICERS - MPG Office Trust, Inc.dex321.htm
EX-31.1 - SECTION 302 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER - MPG Office Trust, Inc.dex311.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - MPG Office Trust, Inc.dex231.htm
EX-10.32 - SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT - MPG Office Trust, Inc.dex1032.htm
EX-10.27 - EXHIBIT G TO CONTRIBUTION AGREEMENT - MPG Office Trust, Inc.dex1027.htm
EX-10.26 - EXHIBIT G TO CONTRIBUTION AGREEMENT - MPG Office Trust, Inc.dex1026.htm
EX-10.33 - FIRST AMENDMENT TO SECOND AMENDED AND RESTATED LIMITED LIABILITY CO. AGREEMENT - MPG Office Trust, Inc.dex1033.htm
EX-10.25 - EXHIBIT F TO CONTRIBUTION AGREEMENT - MPG Office Trust, Inc.dex1025.htm

Exhibit 12.1

MAGUIRE PROPERTIES, INC.

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS

(Unaudited; in thousands, except ratios)

 

     For the Year Ended December 31,  
     2009     2008     2007     2006     2005  

Earnings Available for Fixed Charges and Preferred Dividends:

           

Loss from continuing operations before equity in net loss of unconsolidated joint venture

    $ (666,412 )    $ (157,800 )    $ (125,674 )    $ (26,193 )    $ (25,609 ) 

Plus fixed charges:

           

Interest expense (including amortization of loan fees)

      270,633        237,371        199,340        107,300        136,314   

Capitalized interest and loan fees

      4,940        13,752        50,736        16,523        12,392   

Estimate of interest within rental expense

      1,620        1,606        1,381        418        638   
                                        

Fixed charges

      277,193        252,729        251,457        124,241        149,344   
                                        

Plus:

           

Amortization of capitalized interest

      169        —          —          —          —     

Amortization of loan fees

      9,472        9,795        17,131        10,998        7,027   

Gain on sale of real estate

      20,350        —          —          108,469        —     

Impairment of long-lived assets

      500,831        —          —          —          —     

Default interest accrued on mortgage loans in default

      13,903        —          —          —          —     

Distributions from unconsolidated joint venture

      (160 )      4,600        3,570        5,422        —     

Less:

           

Capitalized interest and loan fees

      (4,940 )      (13,752 )      (50,736 )      (16,523 )      (12,392 ) 
                                        

Earnings

    $ 150,406      $ 95,572      $ 95,748      $ 206,414      $ 118,370   
                                        

Combined Fixed Charges and Preferred Dividends:

           

Fixed charges (from above)

    $ 277,193      $ 252,729      $ 251,457      $ 124,241      $ 149,344   

Preferred dividends

      19,064        19,064        19,064        19,064        19,064   
                                        

Combined fixed charges and preferred dividends

    $ 296,257      $ 271,793      $ 270,521      $ 143,305      $ 168,408   
                                        

Ratio of earnings to combined fixed charges and preferred dividends

      0.51        0.35        0.35        1.44        0.70   
                                        

Deficiency

    $ 145,851      $ 176,221      $ 174,773        $ 50,038   
                                  

MPG Office Trust, Inc. Reports

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