Mid-America Apartment Communities (MAA) 10-Q 2016 Q2 Quarterly report

EXHIBIT 12.2

Mid-America Apartments, L.P.

Computation of Ratio of Earnings to Fixed Charges

(Dollars in thousands)

	Three months ended June 30,				Six months ended June 30,
	2016		2015		2016			2015
Earnings:
Income from continuing operations	$	47,630	$	143,873	$	93,438		$	208,550
Equity in loss (income) of unconsolidated entities	101		23		(27		)	4
Income tax expense	457		398		745			907
Income from continuing operations before equity in loss (income) of unconsolidated entities and income tax expense	48,188		144,294		94,156			209,461
Add:
Distribution of income from investments in unconsolidated entities	375		—		1,793			6
Fixed charges, less preferred distribution requirement of consolidated subsidiaries	32,367		30,923		64,958			62,245
Deduct:
Capitalized interest	328		490		708			964
Total Earnings (A)	$	80,602	$	174,727	$	160,199		$	270,748
Fixed charges and preferred dividends:
Interest expense	$	32,039	$	30,433	$	64,250		$	61,281
Capitalized interest	328		490		708			964
Total Fixed Charges (B)	$	32,367	$	30,923	$	64,958		$	62,245
Preferred dividends, including redemption costs	—		—		—			—
Total Fixed Charges and Stock Dividends (C)	$	32,367	$	30,923	$	64,958		$	62,245
Ratio of Earnings to Fixed Charges (A/B)	2.5 x		5.7 x		2.5 x			4.3 x
Ratio of Earnings to Fixed Charges and Preferred Dividends (A/C)	2.5 x		5.7 x		2.5 x			4.3 x