EXHIBIT 12.1
UDR, Inc.
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
Three months ended June 30, | Six months ended June 30, | |||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
Loss from continuing operations | $ | (29,909 | ) | $ | (28,501 | ) | ($59,671 | ) | ($55,857 | ) | ||||||
Add (from continuing operations): | ||||||||||||||||
Interest on indebtedness | 37,780 | 37,176 | 77,746 | 73,271 | ||||||||||||
Portion of rents representative of the interest factor | 503 | 469 | 998 | 974 | ||||||||||||
Earnings | $ | 8,374 | $ | 9,144 | $ | 19,073 | $ | 18,388 | ||||||||
Fixed charges and preferred stock dividend (from continuing operations): | ||||||||||||||||
Interest on indebtedness | $ | 37,780 | $ | 37,176 | $ | 77,746 | $ | 73,271 | ||||||||
Capitalized interest | 3,488 | 3,329 | 6,092 | 7,276 | ||||||||||||
Portion of rents representative of the interest factor | 503 | 469 | 998 | 974 | ||||||||||||
Fixed charges | 41,771 | 40,974 | 84,836 | 81,521 | ||||||||||||
Add: | ||||||||||||||||
Preferred stock dividend | 2,327 | 2,372 | 4,695 | 4,751 | ||||||||||||
Premium/(discount) on preferred stock repurchases | 175 | (25 | ) | 175 | (25 | ) | ||||||||||
25 | ||||||||||||||||
Combined fixed charges and preferred stock dividend | $ | 44,273 | $ | 43,321 | $ | 89,706 | $ | 86,247 | ||||||||
Ratio of earnings to fixed charges | — | — | — | — | ||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividend | — | — | — | — |
For the three months ended June 30, 2011, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of achieving a 1:1 ratio by $33.4 million and $35.9 million, respectively.
For the six months ended June 30, 2011, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of achieving a 1:1 ratio by $65.8 million and $70.6 million, respectively.
For the three months ended June 30, 2010, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of achieving a 1:1 ratio by $31.8 million and $34.2 million, respectively.
For the six months ended June 30, 2010, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of achieving a 1:1 ratio by $63.1 million and $67.9 million, respectively.