EXHIBIT 12
MANUFACTURED HOME COMMUNITIES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollar amounts in thousands)
For the Years Ended December 31,
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2001 2000 1999 1998 1997
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Income before allocation to Minority
Interests and extraordinary loss on early
extinguishment of debt $ 51,544 $ 52,701 $ 36,835 $ 35,663 $ 33,469
Fixed Charges 62,557 64,532 56,619 49,693 21,753
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Earnings $114,101 $117,233 $ 93,454 $ 85,356 $ 55,222
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Interest incurred $ 50,197 $ 52,317 $ 53,134 $ 49,160 $ 20,708
Amortization of deferred financing costs 1,108 963 641 533 1,045
Perpetual Preferred OP Unit Distributions 11,252 11,252 2,844 -- --
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Fixed Charges $ 62,557 $ 64,532 $ 56,619 $ 49,693 $ 21,753
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Earnings/Fixed Charges 1.82 1.82 1.65 1.72 2.54
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