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EX-8.1 - EX-8.1 - OFFICE PROPERTIES INCOME TRUSTgov-20141231ex81a346ab4.htm
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EX-31.1 - EX-31.1 - OFFICE PROPERTIES INCOME TRUSTgov-20141231ex311c83c4f.htm
EX-21.1 - EX-21.1 - OFFICE PROPERTIES INCOME TRUSTgov-20141231ex21183b8dc.htm
EX-32.1 - EX-32.1 - OFFICE PROPERTIES INCOME TRUSTgov-20141231ex321db07e7.htm
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Exhibit 12.1

GOVERNMENT PROPERTIES INCOME TRUST

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(IN THOUSANDS, EXCEPT RATIO AMOUNTS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2014

 

2013

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income from continuing operations before

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

equity in earnings of investees

 

$

42,243 

 

$

55,308 

 

$

48,903 

 

$

42,255 

 

$

24,018 

 

Distributions of earnings from equity investees

 

 

20,640 

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Fixed charges

 

 

28,048 

 

 

16,831 

 

 

16,892 

 

 

12,057 

 

 

7,351 

 

Adjusted Earnings

 

$

90,931 

 

$

72,139 

 

$

65,795 

 

$

54,312 

 

$

31,369 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness and amortization of deferred

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

finance costs and debt discounts

 

$

28,048 

 

$

16,831 

 

$

16,892 

 

$

12,057 

 

$

7,351 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

3.2x

 

 

4.3x

 

 

3.9x

 

 

4.5x

 

 

4.3x