EXHIBIT 12
UNITED DOMINION REALTY, L.P.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2010 | 2009 | 2010 | 2009 | |||||||||||||
(Loss)/income from continuing operations | $ | (4,259 | ) | $ | 1,460 | $ | (8,743 | ) | 5,272 | |||||||
Add from continuing operations: | ||||||||||||||||
Interest on indebtedness | 12,966 | 13,560 | 26,041 | 25,113 | ||||||||||||
Portion of rents representative of the interest factor | 395 | 389 | 786 | 778 | ||||||||||||
Earnings | $ | 9,102 | $ | 15,409 | $ | 18,084 | $ | 31,163 | ||||||||
Fixed charges from continuing operations: | ||||||||||||||||
Interest on indebtedness | $ | 12,966 | $ | 13,560 | $ | 26,041 | $ | 25,113 | ||||||||
Capitalized interest | 393 | 49 | 590 | 59 | ||||||||||||
Portion of rents representative of the interest factor | 395 | 389 | 786 | 778 | ||||||||||||
Fixed charges | 13,754 | 13,998 | 27,417 | 25,950 | ||||||||||||
Ratio of earnings to fixed charges | — | 1.10 | — | 1.20 |
For the three months ended June 30, 2010, the ratio of earnings to fixed charges was deficient of achieving a 1:1 ratio by $4.7 million.
For the six months ended June 30, 2010, the ratio of earnings to fixed charges was deficient of achieving a 1:1 ratio by $9.3 million.
Years Ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
(Loss)/income from continuing operations | $ | (5,520 | ) | $ | 9,636 | $ | 116,370 | $ | 15,522 | $ | 7,689 | |||||||||
Add from continuing operations: | ||||||||||||||||||||
Interest on indebtedness | 53,547 | 46,671 | 35,455 | 37,727 | 39,593 | |||||||||||||||
Portion of rents representative of the interest factor | 1,543 | 1,437 | 447 | 379 | 362 | |||||||||||||||
Earnings | $ | 49,570 | $ | 57,744 | $ | 152,272 | $ | 53,628 | $ | 47,644 | ||||||||||
Fixed charges from continuing operations: | ||||||||||||||||||||
Interest on indebtedness | $ | 53,547 | $ | 46,671 | $ | 35,455 | $ | 37,727 | $ | 39,593 | ||||||||||
Capitalized interest | 444 | 573 | 909 | 1,096 | — | |||||||||||||||
Portion of rents representative of the interest factor | 1,543 | 1,437 | 447 | 379 | 362 | |||||||||||||||
Fixed charges | 55,534 | 48,681 | 36,811 | 39,202 | 39,955 | |||||||||||||||
Ratio of earnings to fixed charges | — | 1.19 | 4.14 | 1.37 | 1.19 |
For the year ended December 31, 2009, the ratio of earnings to fixed charges was deficient of achieving a 1:1 ratio by $6.0 million.