Exhibit 12
WASHINGTON REAL ESTATE INVESTMENT TRUST
Computation of Ratios
(In thousands)

Earnings to fixed charges ratio:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Income from continuing operations
$
3,658

 
$
1,709

 
$
2,761

 
$
4,104

Additions:
 
 
 
 
 
 
 
   Fixed charges
 
 
 
 
 
 
 
       Interest expense
15,087

 
15,930

 
44,602

 
47,944

       Capitalized interest
591

 
124

 
1,445

 
607

 
15,678

 
16,054

 
46,047

 
48,551

Deductions:
 
 
 
 
 
 
 
       Capitalized interest
(591
)
 
(124
)
 
(1,445
)
 
(607
)
       Net loss attributable to noncontrolling interests
10

 
—

 
17

 
—

Adjusted earnings
18,755

 
17,639

 
47,380

 
52,048

Fixed charges (from above)
$
15,678

 
$
16,054

 
$
46,047

 
$
48,551

Ratio of earnings to fixed charges
1.20

 
1.10

 
1.03

 
1.07


Debt service coverage ratio:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Net income attributable to the controlling interests
$
3,668

 
$
5,840

 
109,309

 
$
18,438

Additions:
 
 
 
 
 
 
 
       Interest expense (1)
15,087

 
16,259

 
44,602

 
48,929

       Real estate depreciation and amortization (1)
24,354

 
24,383

 
71,508

 
75,489

       Income tax expense
46

 
6

 
117

 
30

       Non-real estate depreciation
113

 
203

 
486

 
614

 
39,600

 
40,851

 
116,713

 
125,062

Deductions:
 
 
 
 
 
 
 
       Gain on sale of real estate (1)
—

 
—

 
(106,555
)
 
(3,195
)
Adjusted EBITDA
43,268

 
46,691

 
119,467

 
140,305

Debt service
 
 
 
 
 
 
 
       Interest expense
15,087

 
16,259

 
44,602

 
48,929

       Principal amortization
1,065

 
823

 
2,860

 
2,466

 
$
16,152

 
$
17,082

 
$
47,462

 
$
51,395

Debt service coverage ratio
2.68

 
2.73

 
2.52

 
2.73

(1) Includes discontinued operations