EXHIBIT 12.1
UDR, Inc.
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
|
| | | | | | | | | | | | | | | |
| | Three Months Ended | | Six Months Ended |
| | June 30, | | June 30, |
| | 2016 | | 2015 | | 2016 | | 2015 |
| Earnings: | | | | | | | |
| Income/(loss) from continuing operations | $ | 12,249 |
| | $ | 10,842 |
| | $ | 20,783 |
| | $ | 87,259 |
|
| Add (from continuing operations): | | | | | | | |
| Interest on indebtedness (a) | 30,678 |
| | 29,673 |
| | 61,782 |
| | 58,473 |
|
| Portion of rents representative of the interest factor | 483 |
| | 485 |
| | 966 |
| | 940 |
|
| Amortization of capitalized interest | 1,107 |
| | 934 |
| | 2,159 |
| | 1,865 |
|
| Total earnings | $ | 44,517 |
| | $ | 41,934 |
| | $ | 85,690 |
| | $ | 148,537 |
|
| | | | | | | | |
| Fixed charges and preferred stock dividends (from continuing operations): | | | | |
| Interest on indebtedness (a) | $ | 30,678 |
| | $ | 29,673 |
| | $ | 61,782 |
| | $ | 58,473 |
|
| Interest capitalized | 3,786 |
| | 3,775 |
| | 7,989 |
| | 8,615 |
|
| Portion of rents representative of the interest factor | 483 |
| | 485 |
| | 966 |
| | 940 |
|
| Fixed charges | $ | 34,947 |
| | $ | 33,933 |
| | $ | 70,737 |
| | $ | 68,028 |
|
| | | | | | | | |
| Add: | | | | | | | |
| Preferred stock dividends | 929 |
| | 931 |
| | $ | 1,858 |
| | $ | 1,862 |
|
| Combined fixed charges and preferred stock dividends | $ | 35,876 |
| | $ | 34,864 |
| | $ | 72,595 |
| | $ | 69,890 |
|
| | | | | | | | |
| Ratio of earnings to fixed charges | 1.27 |
| | 1.24 |
| | 1.21 |
| | 2.18 |
|
| Ratio of earnings to combined fixed charges and preferred stock dividends | 1.24 |
| | 1.20 |
| | 1.18 |
| | 2.13 |
|
(a) Includes interest expense of consolidated subsidiaries, amortization of deferred loan costs, realized losses related to hedging activities and amortization of premiums and discounts related to indebtedness.
