American Assets Trust, Inc. - FORM 8-K - EX-12.2 - CALCULATION OF AMERICAN ASSETS TRUST, INC. AND AMERICAN ASSETS TRUST, L.P.

file	filename
EX-12.1 - CALCULATION OF AMERICAN ASSETS TRUST, INC. - American Assets Trust, Inc.	exhibit121-equityratio.htm
8-K - 8-K - American Assets Trust, Inc.	a3720188-kfixedchargeratio.htm



Exhibit 12.2

American Assets Trust, Inc.
Calculation of Ratios of Earnings to Fixed Charges
(in thousands, except ratios)


		For the Year Ended December 31,

	For the period from January 1, 2017 to September 30, 2017	2016	2015	2014	2013	2012
Calculations of Earnings:
Add:
Pre-tax income (loss) from continuing operations before adjustments for equity investees	30,369	46,203	54,210	31,605	23,239	14,965
Fixed charges (including discontinued operations)	42,609	55,713	62,801	64,397	62,809	61,213
Distributed income of equity investees	—	—	—	—	—	—
Subtract:
Interest capitalized	1,153	1,551	7,569	5,490	2,113	752
Total earnings	71,825	100,365	109,442	90,512	83,935	75,426
Fixed charges:
Interest expenses and capitalized	42,162	55,038	62,398	63,946	62,246	60,547
Interest portion of rent expense	446	676	403	451	563	666
Total fixed charges	42,608	55,714	62,801	64,397	62,809	61,213
Ratio of earnings to fixed charges	1.7	1.8	1.7	1.4	1.3	1.2



Exhibit 12.2

American Assets Trust, L.P.
Calculation of Ratios of Earnings to Fixed Charges
(in thousands, except ratios)


		For the Year Ended December 31,

	For the period from January 1, 2017 to September 30, 2017	2016	2015	2014	2013	2012
Calculations of Earnings:
Add:
Pre-tax income (loss) from continuing operations before adjustments for equity investees	30,369	46,203	54,210	31,605	23,239	14,965
Fixed charges (including discontinued operations)	42,609	55,713	62,801	64,397	62,809	61,213
Distributed income of equity investees	—	—	—	—	—	—
Subtract:
Interest capitalized	1,153	1,551	7,569	5,490	2,113	752
Total earnings	71,825	100,365	109,442	90,512	83,935	75,426
Fixed charges:
Interest expenses and capitalized	42,162	55,038	62,398	63,946	62,246	60,547
Interest portion of rent expense	446	676	403	451	563	666
Total fixed charges	42,608	55,714	62,801	64,397	62,809	61,213
Ratio of earnings to fixed charges	1.7	1.8	1.7	1.4	1.3	1.2

American Assets Trust, Inc. - FORM 8-K - EX-12.2 - CALCULATION OF AMERICAN ASSETS TRUST, INC. AND AMERICAN ASSETS TRUST, L.P. - March 7, 2018