EXHIBIT 12.1
UDR, Inc.
Computation of Ratio Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Loss from continuing operations | $ | (23,123 | ) | $ | (34,130 | ) | $ | (21,382 | ) | $ | (66,977 | ) | |||
Add (from continuing operations): | |||||||||||||||
Interest on indebtedness (a) | 41,542 | 37,660 | 76,287 | 76,817 | |||||||||||
Portion of rents representative of the interest factor | 517 | 503 | 1,033 | 998 | |||||||||||
$ | 18,936 | $ | 4,033 | $ | 55,938 | $ | 10,838 | ||||||||
Fixed charges and preferred stock dividends (from continuing operations): | |||||||||||||||
Interest on indebtedness | $ | 41,542 | $ | 37,660 | $ | 76,287 | $ | 76,817 | |||||||
Capitalized interest | 5,136 | 3,488 | 9,988 | 6,092 | |||||||||||
Portion of rents representative of the interest factor | 517 | 503 | 1,033 | 998 | |||||||||||
Fixed charges | $ | 47,195 | $ | 41,651 | $ | 87,308 | $ | 83,907 | |||||||
Add: | |||||||||||||||
Preferred stock dividends | $ | 1,840 | $ | 2,327 | $ | 4,148 | $ | 4,695 | |||||||
Premium on preferred stock | 2,791 | 175 | 2,791 | 175 | |||||||||||
Combined fixed charges and preferred stock dividends | $ | 51,826 | $ | 44,153 | $ | 94,247 | $ | 88,777 | |||||||
Ratio of earnings to fixed charges | — | — | — | — | |||||||||||
Ratio of earnings to combined fixed charges and preferred stock | — | — | — | — |
For the three months ending June 30, 2012, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of 1:1 ratio by $28.3 million and $32.9 million, respectively.
For the six months ending June 30, 2012, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of 1:1 ratio by $31.4 million and $38.3 million, respectively.
For the three months ending June 30, 2011, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of 1:1 ratio by $37.6 million and $40.1 million, respectively.
For the six months ending June 30, 2011, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of 1:1 ratio by $73.1 million and $77.9 million, respectively.