EXHIBIT 12.1
UDR, Inc.
Computation of Ratio Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
|
| | | | | | | | | | | | | | | |
| | Three Months Ended September 30, | | Nine Months Ended September 30, |
| | 2012 | | 2011 | | 2012 | | 2011 |
| Loss from continuing operations | $ | (8,543 | ) | | $ | (30,026 | ) | | $ | (29,925 | ) | | $ | (97,003 | ) |
| | | | | | | | |
| Add (from continuing operations): | | | | | | | |
| Interest on indebtedness | 31,845 |
| | 39,968 |
| | 108,132 |
| | 116,785 |
|
| Portion of rents representative of the interest factor | 510 |
| | 522 |
| | 1,534 |
| | 1,519 |
|
| | $ | 23,812 |
| | $ | 10,464 |
| | $ | 79,741 |
| | $ | 21,301 |
|
| Fixed charges and preferred stock dividends (from continuing operations): | | | | | | | |
| Interest on indebtedness | $ | 31,845 |
| | $ | 39,968 |
| | $ | 108,132 |
| | $ | 116,785 |
|
| Capitalized interest | 7,616 |
| | 3,397 |
| | 17,604 |
| | 9,489 |
|
| Portion of rents representative of the interest factor | 510 |
| | 522 |
| | 1,534 |
| | 1,519 |
|
| Fixed charges | $ | 39,971 |
| | $ | 43,887 |
| | $ | 127,270 |
| | $ | 127,793 |
|
| | | | | | | | |
| Add: | | | | | | | |
| Preferred stock dividends | $ | 931 |
| | $ | 2,308 |
| | $ | 5,079 |
| | $ | 7,003 |
|
| Premium on preferred stock | — |
| | — |
| | 2,791 |
| | 175 |
|
| Combined fixed charges and preferred stock dividends | $ | 40,902 |
| | $ | 46,195 |
| | $ | 135,140 |
| | $ | 134,971 |
|
| | | | | | | | |
| Ratio of earnings to fixed charges | — |
| | — |
| | — |
| | — |
|
| Ratio of earnings to combined fixed charges and preferred stock | — |
| | — |
| | — |
| | — |
|
For the three months ending September 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 $16.2 million and $17.1 million, respectively.
For the six months ending September 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 $47.5 million and $55.4 million, respectively.
For the three months ending September 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 $33.4 million and $35.7 million, respectively.
For the six months ending September 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 $106.5 million and $113.7 million, respectively.
