Exhibit 12.1
American Homes 4 Rent
Exhibit 12.1 Ratio of Earnings to Fixed Charges
June 30, 2014
|
| Six Months Ended |
| Year Ended |
| Year Ended |
| Period from |
|
|
| June 30, |
| December 31, |
| December 31, |
| 23-Jun-11 |
|
|
| 2014 |
| 2013 (a) |
| 2012 |
| to December 31, 2011 |
|
|
| (in thousands) |
| (in thousands) |
| (in thousands) |
| (in thousands) |
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
Interest expense |
| 5,390 |
| 370 |
| — |
| — |
|
Capitalized interest |
| 5,338 |
| 9,646 |
| — |
| — |
|
Preferred distributions (b) |
| 16,994 |
| 16,223 |
| — |
| — |
|
Total fixed charges |
| 27,722 |
| 26,239 |
| — |
| — |
|
Earnings available for fixed charges: |
|
|
|
|
|
|
|
|
|
Loss from continuing operations |
| (10,304 | ) | (20,074 | ) | (10,236 | ) | (42 | ) |
Fixed charges |
| 27,722 |
| 26,239 |
| — |
| — |
|
Less: capitalized interest |
| (5,338 | ) | (9,646 | ) | — |
| — |
|
Less: gain on remeasurement of equity method investment |
| — |
| (10,945 | ) | — |
| — |
|
Remeasurement of Series E units |
| 7,700 |
| 2,057 |
| — |
| — |
|
Remeasurement of Preferred shares |
| 598 |
| 1,810 |
| — |
| — |
|
Total earnings available for fixed charges |
| 20,378 |
| (10,559 | ) | (10,236 | ) | (42 | ) |
Ratio of earnings to fixed charges |
| (d) |
| (c) |
| n/a |
| n/a |
|
