Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - Hudson Pacific Properties, Inc. | a201610kex322ceoandcfoseci.htm |
| EX-32.1 - EXHIBIT 32.1 - Hudson Pacific Properties, Inc. | a201610kex321ceoandcfosect.htm |
| EX-31.4 - EXHIBIT 31.4 - Hudson Pacific Properties, Inc. | a201610kex314cfosection302.htm |
| EX-31.3 - EXHIBIT 31.3 - Hudson Pacific Properties, Inc. | a201610kex313ceosection302.htm |
| EX-31.2 - EXHIBIT 31.2 - Hudson Pacific Properties, Inc. | a201610kex312cfosection302.htm |
| EX-31.1 - EXHIBIT 31.1 - Hudson Pacific Properties, Inc. | a201610kex311ceosection302.htm |
| EX-23.1 - EXHIBIT 23.1 - Hudson Pacific Properties, Inc. | a201610kex231consentofinde.htm |
| EX-21.1 - EXHIBIT 21.1 - Hudson Pacific Properties, Inc. | a201610kex211listofsubsidi.htm |
| EX-10.75 - EXHIBIT 10.75 - Hudson Pacific Properties, Inc. | a201610kex1075secondamendm.htm |
| 10-K - 10-K - Hudson Pacific Properties, Inc. | a201610k.htm |
Exhibit 12.1
HUDSON PACIFIC PROPERTIES, INC.
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED DIVIDENDS
(Unaudited; in thousands, except ratios)
Consolidated | |||||||||||||||||||
For the year ended December 31, | |||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
Earnings Available for Fixed Charges and Preferred Dividends: | |||||||||||||||||||
Net income (loss) | $ | 43,758 | $ | (16,082 | ) | $ | 23,522 | $ | (2,594 | ) | $ | (5,006 | ) | ||||||
Plus fixed charges: | |||||||||||||||||||
Interest expense (including amortization of loan fees) | 76,044 | 50,667 | 25,932 | 25,470 | 19,071 | ||||||||||||||
Capitalized interest and loan fees | 11,307 | 6,516 | 6,938 | 4,562 | 1,461 | ||||||||||||||
Estimate of interest within rental expense | 1,769 | 1,134 | 174 | 144 | 153 | ||||||||||||||
Distributions on redemption of Series B preferred stock | — | 5,970 | — | — | — | ||||||||||||||
Fixed Charges | 89,120 | 64,287 | 33,044 | 30,176 | 20,685 | ||||||||||||||
Plus: | |||||||||||||||||||
Amortization of capitalized interest | 577 | 410 | 232 | 115 | 73 | ||||||||||||||
Less: | |||||||||||||||||||
Capitalized interest and loan fees | (11,307 | ) | (6,516 | ) | (6,938 | ) | (4,562 | ) | (1,461 | ) | |||||||||
Distributions on redemption of Series B preferred stock | — | (5,970 | ) | — | — | — | |||||||||||||
Earnings | $ | 122,148 | $ | 36,129 | $ | 49,860 | $ | 23,135 | $ | 14,291 | |||||||||
Combined Fixed Charges and Preferred Dividends: | |||||||||||||||||||
Fixed charges (from above) | $ | 89,120 | $ | 64,287 | $ | 33,044 | $ | 30,176 | $ | 20,685 | |||||||||
Preferred dividends | 636 | 12,105 | 12,785 | 12,893 | 12,924 | ||||||||||||||
Combined fixed charges and preferred dividends: | 89,756 | 76,392 | 45,829 | 43,069 | 33,609 | ||||||||||||||
Ratio of earnings to combined fixed charges and preferred dividends | 1.36 | 0.47 | 1.09 | 0.54 | 0.43 | ||||||||||||||
Deficiency | $ | — | $ | 40,263 | $ | — | $ | 19,934 | $ | 19,318 | |||||||||