EXHIBIT 12 WASHINGTON REALTY INVESTMENT TRUST COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
Year ended December 31, 1999 1998 1997 ---- ---- ---- Net earnings before loss (gain) on sale of real estate $ 36,392 $ 34,300 $ 30,136 Add back: Fixed charges 22,495 17,106 9,761 Deduct: Capitalized interest (224) (0) (70) Earnings available for fixed charges and preferred dividends $ 58,663 $ 51,406 $ 39,827 Fixed Charges Interest expense $ 22,271 $ 17,106 $ 9,691 Capitalized interest 224 0 70 Interest portion of rent expense 0 0 0 Total fixed charges 22,495 17,106 9,761 Preferred dividends 0 0 0 Total fixed charges and preferred dividends $ 22,495 $ 17,106 $ 9,761 Ratio of Earnings to Fixed Charges and Preferred Dividends 2.61 3.01 4.08