EXHIBIT 12
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 March 31, | ||||||||
2007 | 2006 | |||||||
Loss before discontinued operations, net of minority interests | $ | (8,129 | ) | $ | (6,533 | ) | ||
Add (from continuing operations): | ||||||||
Interest on indebtedness | 44,194 | 44,470 | ||||||
Minority interests | (694 | ) | (660 | ) | ||||
Portion of rents representative of the interest factor | 200 | 168 | ||||||
Earnings | $ | 35,571 | $ | 37,445 | ||||
Fixed charges and preferred stock dividend (from continuing operations): | ||||||||
Interest on indebtedness | $ | 44,194 | $ | 44,470 | ||||
Capitalized interest | 1,775 | 835 | ||||||
Portion of rents representative of the interest factor | 200 | 168 | ||||||
Fixed charges | 46,169 | 45,473 | ||||||
Add: | ||||||||
Preferred stock dividend | 3,842 | 3,842 | ||||||
Combined fixed charges and preferred stock dividend | $ | 50,011 | $ | 49,315 | ||||
Ratio of earnings to fixed charges | — | — | ||||||
Ratio of earnings to combined fixed charges and preferred stock dividend | — | — |
For the three months ended March 31, 2007 and 2006, the ratio of earnings to fixed charges was deficient of achieving a 1:1 ratio by $10.6 million and $8.0 million, respectively.
For the three months ended March 31, 2007 and 2006, the ratio of earnings to combined fixed charges and preferred stock dividend was deficient of achieving a 1:1 ratio by $14.4 million and $11.9 million, respectively.