EX-12.1 2 c208-20170930ex121caf08a.htm EX-12.1 udr_Ex12_1

 

EXHIBIT 12.1

 

UDR, Inc.

 

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30,

 

September 30,

 

 

 

2017

 

2016

 

2017

 

2016

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income/(loss) from continuing operations

 

$

17,570

 

$

29,466

 

$

54,896

 

$

50,249

 

Add (from continuing operations):

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness (a)

 

 

30,095

 

 

31,954

 

 

94,500

 

 

93,736

 

Portion of rents representative of the interest factor

 

 

488

 

 

477

 

 

1,662

 

 

1,443

 

Amortization of capitalized interest

 

 

1,384

 

 

1,177

 

 

3,866

 

 

3,336

 

Total earnings

 

$

49,537

 

$

63,074

 

$

154,924

 

$

148,764

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges and preferred stock dividends (from continuing operations):

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness (a)

 

$

30,095

 

$

31,954

 

$

94,500

 

$

93,736

 

Interest capitalized

 

 

4,638

 

 

4,133

 

 

13,990

 

 

12,122

 

Portion of rents representative of the interest factor

 

 

488

 

 

477

 

 

1,662

 

 

1,443

 

Fixed charges

 

$

35,221

 

$

36,564

 

$

110,152

 

$

107,301

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock dividends

 

 

926

 

 

929

 

 

2,784

 

 

2,787

 

Combined fixed charges and preferred stock dividends

 

$

36,147

 

$

37,493

 

$

112,936

 

$

110,088

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

1.41

 

 

1.73

 

 

1.41

 

 

1.39

 

Ratio of earnings to combined fixed charges and preferred stock dividends

 

 

1.37

 

 

1.68

 

 

1.37

 

 

1.35

 

(a)

Includes interest expense of consolidated subsidiaries, amortization of deferred loan costs, realized losses related to hedging activities and amortization of premiums and discounts related to indebtedness.