Exhibit 12

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

Earnings to fixed charges ratio:
 
 
Three Months Ended December 31,
 
Year Ended December 31,
 
 
2017
 
2017
 
2016
 
2015
 
2014
 
2013
Income (loss) from continuing operations
 
$
2,337

 
$
19,612

 
$
119,288

 
$
89,187

 
$
5,070

 
$
(193
)
Additions:
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
11,900

 
47,534

 
53,126

 
59,546

 
59,785

 
63,573

Capitalized interest
 
288

 
964

 
668

 
658

 
2,142

 
1,236

 
 
12,188

 
48,498

 
53,794

 
60,204

 
61,927

 
64,809

Deductions:
 
 
 
 
 
 
 
 
 
 
 
 
Capitalized interest
 
(288
)
 
(964
)
 
(668
)
 
(658
)
 
(2,142
)
 
(1,236
)
Net loss (income) attributable to noncontrolling interests
 
—

 
56

 
51

 
553

 
38

 
—

Adjusted earnings
 
$
14,237

 
$
67,202

 
$
172,465

 
$
149,286

 
$
64,893

 
$
63,380

Fixed charges (from above)
 
$
12,188

 
$
48,498

 
$
53,794

 
$
60,204

 
$
61,927

 
$
64,809

Ratio of earnings to fixed charges
(1 
) 
1.17

(1 
) 
1.39

(1) 
3.21

(1 
) 
2.48

(1 
) 
1.05

(2 
) 
0.98


(1) The earnings to fixed charges ratios for the three months ended December 31, 2017 and the years ended December 31, 2017, 2016, 2015 and 2014 include gains on sale of real estate of $24.9 million, $24.9 million, $101.7 million, $91.1 million and $0.6 million, respectively, classified as continuing operations. Prior to our adoption of Accounting Standards Update 2014-08 effective January 1, 2014, gains from the sale of real estate were classified as discontinued operations.
(2) Due to the loss from continuing operations, the ratio was less than 1:1. Washington REIT must generate additional earnings of $1.4 million to achieve a ratio of 1:1.