WASHINGTON REAL ESTATE INVESTMENT TRUST
Computation of Ratios
(In thousands)

Earnings to fixed charges ratio:
 
Q1 2012
 
Q1 2011
Income from continuing operations
$
5,181

 
$
2,119

Additions:
 
 
 
   Fixed charges
 
 
 
       Interest expense
15,895

 
16,893

       Capitalized interest
425

 
83

 
16,320

 
16,976

Deductions:
 
 
 
       Capitalized interest
(425
)
 
(83
)
       Net income attributable to noncontrolling interests
—

 
(23
)
Adjusted earnings
$
21,076

 
$
18,989

Fixed charges (from above)
$
16,320

 
$
16,976

Ratio of earnings to fixed charges
1.29

 
1.12


Debt service coverage ratio:
 
Q1 2012
 
Q1 2011
Net income attributable to the controlling interests
$
5,181

 
$
4,665

Additions:
 
 
 
       Interest expense
15,895

 
17,126

       Real estate depreciation and amortization
25,994

 
25,249

       Income tax expense
13

 
—

       Real estate impairment
—

 
599

       Non-real estate depreciation
268

 
268

 
42,170

 
43,242

Deductions:
 
 
 
       Loss on extinguishment of debt
—

 
—

       Gain on sale of real estate
—

 
—

Adjusted EBITDA
$
47,351

 
$
47,907

Debt service
 
 
 
       Interest expense
$
15,895

 
$
17,126

       Principal amortization
1,453

 
1,005

 
$
17,348

 
$
18,131

Debt service coverage ratio
2.73

 
2.64