Hudson Pacific Properties, Inc. - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 26, 2016

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EX-31.4 - EXHIBIT 31.4 - Hudson Pacific Properties, Inc.a201510kex314cfosection302.htm
EX-22.1 - EXHIBIT 22.1 - Hudson Pacific Properties, Inc.a201510kex221listofsubsidi.htm
EX-10.96 - EXHIBIT 10.96 - Hudson Pacific Properties, Inc.a201510kex1096hudson-restr.htm
EX-32.1 - EXHIBIT 32.1 - Hudson Pacific Properties, Inc.a201510kex321ceoandcfosect.htm
EX-10.1 - EXHIBIT 10.1 - Hudson Pacific Properties, Inc.a201510kex101fourthamended.htm
EX-10.95 - EXHIBIT 10.95 - Hudson Pacific Properties, Inc.a201510kex1095hatfieldempl.htm
EX-31.3 - EXHIBIT 31.3 - Hudson Pacific Properties, Inc.a201510kex313ceosection302.htm
EX-31.2 - EXHIBIT 31.2 - Hudson Pacific Properties, Inc.a201510kex312cfosection302.htm
10-K - 10-K - Hudson Pacific Properties, Inc.a201510k.htm
EX-31.1 - EXHIBIT 31.1 - Hudson Pacific Properties, Inc.a201510kex311ceosection302.htm
EX-32.2 - EXHIBIT 32.2 - Hudson Pacific Properties, Inc.a201510kex322ceoandcfoseci.htm
EX-23.1 - EXHIBIT 23.1 - Hudson Pacific Properties, Inc.a201510kex231consentofinde.htm
Exhibit 12.1

HUDSON PACIFIC PROPERTIES

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED DIVIDENDS
(Unaudited; in thousands, except ratios)

 
Consolidated
 
For the year ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings Available for Fixed Charges
 
 
 
 
 
 
 
 
 
and Preferred Dividends:
 
 
 
 
 
 
 
 
 
Net loss
$
(16,082
)
 
$
23,522

 
$
(2,594
)
 
$
(5,006
)
 
$
(2,238
)
 
 
 
 
 
 
 
 
 
 
Plus fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense (including amortization of loan fees)
$
50,667

 
$
25,932

 
$
25,470

 
$
19,071

 
$
17,480

Capitalized interest and loan fees
6,516

 
6,938

 
4,562

 
1,461

 
189

Estimate of interest within rental expense
1,134

 
174

 
144

 
153

 
124

Distributions on redemption of series B preferred stock
5,970

 
—

 
—

 
—

 
—

Fixed Charges
$
64,287

 
$
33,044

 
$
30,176

 
$
20,685

 
$
17,793

 
 
 
 
 
 
 
 
 
 
Plus:
 
 
 
 
 
 
 
 
 
Amortization of capitalized interest
$
410

 
$
232

 
$
115

 
$
73

 
$
73

Less:
 
 
 
 
 
 
 
 
 
Capitalized interest and loan fees
(6,516
)
 
(6,938
)
 
(4,562
)
 
(1,461
)
 
(189
)
Distributions on redemption of series B preferred stock
(5,970
)
 
—

 
—

 
—

 
—

Earnings
$
36,129

 
$
49,860

 
$
23,135

 
$
15,067

 
$
15,835

 
 
 
 
 
 
 
 
 
 
Combined Fixed Charges and
 
 
 
 
 
 
 
 
 
Preferred Dividends:
 
 
 
 
 
 
 
 
 
Fixed charges (from above)
$
64,287

 
$
33,044

 
$
30,176

 
$
21,000

 
$
18,000

Preferred dividends
12,105

 
12,785

 
12,893

 
12,924

 
8,108

Combined fixed charges and
preferred dividends:
$
76,392

 
$
45,829

 
$
43,069

 
$
33,924

 
$
26,108

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred dividends
0.47

 
1.09

 
0.54

 
0.44

 
0.62

Deficiency
$
40,263

 
$
—

 
$
19,919

 
$
19,318

 
$
10,462




Hudson Pacific Properties, Inc. Reports