EXHIBIT 12.2
Corporate Office Properties, L.P.
Ratio of Earnings to Fixed Charges
(Dollars in thousands)
 
 
Nine Months Ended,
Earnings:
 
September 30, 2016
Loss from continuing operations before equity in income of unconsolidated entities and income taxes
 
$
(45,691
)
Gain on sales of real estate, excluding discontinued operations
 
34,101

Fixed charges (from below)
 
69,327

Amortization of capitalized interest
 
2,069

Distributed income of equity investees
 
552

Subtract:
 
 
Capitalized interest (from below)
 
(4,304
)
Preferred distributions of other consolidated entities
 
(12
)
Total earnings
 
$
56,042

 
 
 
Fixed charges:
 
 
Interest expense on continuing operations
 
$
64,499

Capitalized interest (internal and external)
 
4,304

Interest included in rental expense
 
512

Preferred distributions of other consolidated entities
 
12

Total fixed charges
 
$
69,327

 
 
 
Ratio of earnings to fixed charges
 
0.81

 
 
 
Deficiency
 
$
13,285


For purposes of calculating the above ratios, earnings were computed by adding fixed charges (excluding capitalized interest), gain on sales of real estate (excluding discontinued operations) amortization of capitalized interest and distributed income of equity investees to income from continuing operations before noncontrolling interests, equity in income of unconsolidated entities and income taxes. Fixed charges consist of interest costs and capitalized amortization of debt issuance costs.