Exhibit 12
WASHINGTON REAL ESTATE INVESTMENT TRUST
Computation of Ratio of Earnings to Fixed Charges
(In thousands)
| Q1 2008 | Q2 2008 | Q3 2008 | Q4 2008 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||||||||||||
| Income from continuing operations |
$ | (2,446 | ) | $ | 5,158 | $ | 5,613 | $ | 6,889 | $ | 15,214 | $ | 31,355 | $ | 34,826 | $ | 36,994 | $ | 37,810 | |||||||||||||||||
| Additions: |
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| Fixed charges |
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| Interest expense |
17,664 | 17,582 | 17,148 | 17,515 | 69,909 | 61,906 | 47,265 | 36,821 | 33,284 | |||||||||||||||||||||||||||
| Capitalized interest |
757 | 671 | 441 | 273 | 2,142 | 6,165 | 3,782 | 1,127 | 703 | |||||||||||||||||||||||||||
| 18,421 | 18,253 | 17,589 | 17,788 | 72,051 | 68,071 | 51,047 | 37,948 | 33,987 | ||||||||||||||||||||||||||||
| Deductions: |
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| Capitalized interest |
(757 | ) | (671 | ) | (441 | ) | (273 | ) | (2,142 | ) | (6,165 | ) | (3,782 | ) | (1,127 | ) | (703 | ) | ||||||||||||||||||
| Adjusted earnings |
$ | 15,218 | $ | 22,740 | $ | 22,761 | $ | 24,404 | $ | 85,123 | $ | 93,261 | $ | 82,091 | $ | 73,815 | $ | 71,094 | ||||||||||||||||||
| Fixed Charges (from above) |
$ | 18,421 | $ | 18,253 | $ | 17,589 | $ | 17,788 | $ | 72,051 | $ | 68,071 | $ | 51,047 | $ | 37,948 | $ | 33,987 | ||||||||||||||||||
| Ratio of Earnings to Fixed Charges |
0.83 | 1.25 | 1.29 | 1.37 | 1.18 | 1.37 | 1.61 | 1.95 | 2.09 | |||||||||||||||||||||||||||
Note: Q1 2008 reflects the impact of a loss on extinguishment of debt of $8.5 million, and Q4 2008 reflects the impact of a gain on extinguishment of debt of $3.5 million. YTD 2008 reflects the impact of a net loss on extinguishment of debt of $5.0 million. See Note 6 to the consolidated financial statements for further discussion.