EX-12.1 4 c208-20180930ex121dafd8c.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, 

 

 

2018

 

2017

 

2018

 

2017

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Income/(loss) from continuing operations

 

$

20,258

 

$

17,570

 

$

61,627

 

$

54,896

Add (from continuing operations):

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness (a)

 

 

34,401

 

 

30,095

 

 

95,942

 

 

94,500

Portion of rents representative of the interest factor

 

 

681

 

 

488

 

 

1,737

 

 

1,662

Amortization of capitalized interest

 

 

1,451

 

 

1,384

 

 

4,257

 

 

3,866

Total earnings

 

$

56,791

 

$

49,537

 

$

163,563

 

$

154,924

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness (a)

 

$

34,401

 

$

30,095

 

$

95,942

 

$

94,500

Interest capitalized

 

 

1,657

 

 

4,638

 

 

9,833

 

 

13,990

Portion of rents representative of the interest factor

 

 

681

 

 

488

 

 

1,737

 

 

1,662

Fixed charges

 

$

36,739

 

$

35,221

 

$

107,512

 

$

110,152

 

 

 

 

 

 

 

 

 

 

 

 

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock dividends

 

 

971

 

 

926

 

 

2,897

 

 

2,784

Combined fixed charges and preferred stock dividends

 

$

37,710

 

$

36,147

 

$

110,409

 

$

112,936

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

1.55

 

 

1.41

 

 

1.52

 

 

1.41

Ratio of earnings to combined fixed charges and preferred stock dividends

 

 

1.51

 

 

1.37

 

 

1.48

 

 

1.37

(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.