EXHIBIT 12.2 AMB Property, L.P. Computation of Earnings to Fixed Charges Ratio (In thousands)
2001 2000 1999 1998 1997 -------- -------- -------- -------- -------- Earnings Income from continuing operations before adjustment for minority interest 152,743 135,432 192,990 118,256 9,174 Add: Minority interest in income of majority owned subsidiaries 49,357 31,311 19,614 5,494 117 Fixed charges 167,313 125,596 114,011 78,283 4,010 Amortization of capitalized interest 849 463 191 11 -- Losses from unconsolidated entities 43 3,159 875 313 61 Distributed income from unconsolidated entities 5,341 4,295 3,787 1,934 -- Less: Interest capitalization (13,650) (15,461) (10,872) (7,192) (448) Preferred distributions of consolidated subsidiaries (22,201) (19,005) (13,893) (1,016) -- Income from unconsolidated entities and other (2,990) (3,754) (3,745) (1,350) -- --------------------------------------------------------- Total earnings 336,805 262,036 302,958 194,733 12,914 Fixed charges Interest on indebtedness (including amortization of premiums and financings costs) 128,985 90,270 88,681 69,670 3,528 Interest capitalized 13,650 15,461 10,872 7,192 448 Portion of rents representative of the interest factor 2,477 860 565 405 34 Preferred distributions of consolidated subsidiaries 22,201 19,005 13,893 1,016 -- --------------------------------------------------------- Total fixed charges 167,313 125,596 114,011 78,283 4,010 Earnings to fixed charges 2.0 2.1 2.7 2.5 3.2