Attached files
| file | filename |
|---|---|
| EX-31.1 - EXHIBIT 31.1 - OFFICE PROPERTIES INCOME TRUST | gov_093018x10qex311.htm |
| EX-32.1 - EXHIBIT 32.1 - OFFICE PROPERTIES INCOME TRUST | gov_093018x10qex321.htm |
| 10-Q - 10-Q - OFFICE PROPERTIES INCOME TRUST | gov_093018x10qxdocument.htm |
| EX-31.2 - EXHIBIT 31.2 - OFFICE PROPERTIES INCOME TRUST | gov_093018x10qex312.htm |
Exhibit 12.1
GOVERNMENT PROPERTIES INCOME TRUST
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS, EXCEPT RATIO AMOUNTS)
Nine Months Ended September 30, | Year Ended December 31, | ||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | |||||||||||||||
Earnings: | |||||||||||||||||||
Add: | |||||||||||||||||||
Income (loss) from continuing operations (including gain on sale of properties, if any) before income tax expense and equity in earnings (losses) of investees | $ | 13,175 | $ | (9,553 | ) | $ | 22,936 | $ | (227,990 | ) | $ | 42,190 | |||||||
Distributions of earnings from equity investees | 23,843 | 18,640 | 32,425 | 21,882 | 17,046 | ||||||||||||||
Fixed charges | 69,510 | 65,917 | 45,164 | 37,008 | 28,048 | ||||||||||||||
Subtract: | |||||||||||||||||||
Interest capitalized | (66 | ) | (511 | ) | (52 | ) | — | — | |||||||||||
Preferred distributions | (371 | ) | (275 | ) | — | — | — | ||||||||||||
Total earnings (loss) | $ | 106,091 | $ | 74,218 | $ | 100,473 | $ | (169,100 | ) | $ | 87,284 | ||||||||
Fixed Charges: | |||||||||||||||||||
Interest on indebtedness and net amortization of debt issuance costs and debt premiums and discounts | $ | 69,073 | $ | 65,131 | $ | 45,112 | $ | 37,008 | 28,048 | ||||||||||
Interest capitalized | 66 | 511 | 52 | — | — | ||||||||||||||
Preferred distributions | 371 | 275 | — | — | — | ||||||||||||||
Total fixed charges | $ | 69,510 | $ | 65,917 | $ | 45,164 | $ | 37,008 | $ | 28,048 | |||||||||
Ratio of adjusted earnings (loss) to fixed charges | 1.5x | 1.1x | 2.2x | (4.6x) | (1) | 3.1x | |||||||||||||
(1) The deficiency for the year was approximately $206.1 million.