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Exhibit 12.1
HRPT PROPERTIES TRUST
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands, except ratio amounts)
Six Months Ended
June 30, Year Ended December 31,
--------------------- ----------------------------------------------------
2000 1999 1999 1998 1997 1996 1995
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<S> <C> <C> <C> <C> <C> <C> <C>
Income before gain on sale of
properties and extraordinary item $ 53,177 $ 77,036 $105,555 $146,656 $112,204 $ 77,164 $ 61,760
Fixed charges 52,553 40,981 90,772 66,253 38,564 23,279 26,218
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Adjusted Earnings $105,730 $118,017 $196,327 $212,909 $150,768 $100,443 $ 87,978
===================== ====================================================
Fixed Charges:
Interest expense $ 50,408 $ 39,525 $ 87,470 $ 64,326 $ 36,766 $ 22,545 $ 24,274
Amortization of deferred financing
costs
2,145 1,456 3,302 1,927 1,798 734 1,944
--------------------- ----------------------------------------------------
Total Fixed Charges $ 52,553 $ 40,981 $ 90,772 $ 66,253 $ 38,564 $ 23,279 $ 26,218
===================== ====================================================
Ratio of Earnings to Fixed Charges 2.0x 2.9x 2.2x 3.2x 3.9x 4.3x 3.4x
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