EXHIBIT 12.1
UDR, Inc.
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
|
| | | | | | | | | | | | | | | |
| | Three Months Ended September 30, | | Nine Months Ended September 30, |
| | 2013 | | 2012 | | 2013 | | 2012 |
| Income/(loss) from continuing operations | $ | 3,235 |
| | $ | (8,543 | ) | | $ | 8,280 |
| | $ | (29,925 | ) |
| | | | | | | | |
| Add (from continuing operations): | | | | | | | |
| Interest on indebtedness | 30,939 |
| | 31,845 |
| | 92,723 |
| | 108,132 |
|
| Portion of rents representative of the interest factor | 554 |
| | 510 |
| | 1,596 |
| | 1,534 |
|
| | $ | 34,728 |
| | $ | 23,812 |
| | $ | 102,599 |
| | $ | 79,741 |
|
| Fixed charges and preferred stock dividends (from continuing operations): | | | | | | | |
| Interest on indebtedness | $ | 30,939 |
| | $ | 31,845 |
| | $ | 92,723 |
| | $ | 108,132 |
|
| Capitalized interest | 6,635 |
| | 7,616 |
| | 23,212 |
| | 17,604 |
|
| Portion of rents representative of the interest factor | 554 |
| | 510 |
| | 1,596 |
| | 1,534 |
|
| Fixed charges | $ | 38,128 |
| | $ | 39,971 |
| | $ | 117,531 |
| | $ | 127,270 |
|
| | | | | | | | |
| Add: | | | | | | | |
| Preferred stock dividends | $ | 931 |
| | $ | 931 |
| | $ | 2,793 |
| | $ | 5,079 |
|
| Premium on preferred stock redemptions, net | — |
| | — |
| | — |
| | 2,791 |
|
| Combined fixed charges and preferred stock dividends | $ | 39,059 |
| | $ | 40,902 |
| | $ | 120,324 |
| | $ | 135,140 |
|
| | | | | | | | |
| Ratio of earnings to fixed charges | — |
| | — |
| | — |
| | — |
|
| Ratio of earnings to combined fixed charges and preferred stock dividends | — |
| | — |
| | — |
| | — |
|
For the three months ended September 30, 2013, the ratio of earnings to fixed charges and the ratio of earnings to combined fixed charges and preferred stock dividends were deficient of 1:1 ratio by $3.4 million and $4.3 million, respectively.
For the nine months ended September 30, 2013, the ratio of earnings to fixed charges and the ratio of earnings to combined fixed charges and preferred stock dividends were deficient of 1:1 ratio by $14.9 million and $17.7 million, respectively.
For the three months ended September 30, 2012, the ratio of earnings to fixed charges and the ratio of earnings to combined fixed charges and preferred stock dividends were deficient of 1:1 ratio by $16.2 million and $17.1 million, respectively.
For the nine months ended September 30, 2012, the ratio of earnings to fixed charges and the ratio of earnings to combined fixed charges and preferred stock dividends were deficient of 1:1 ratio by $47.5 million and $55.4 million, respectively.
