EX-12.1 2 c22344exv12w1.htm EXHIBIT 12.1 Exhibit 12.1
EXHIBIT 12.1
UDR, Inc.
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
                                 
    Three months ended September 30,     Nine months ended September 30,  
    2011     2010     2011     2010  
 
                                
Loss from continuing operations
   $ (25,596 )   $ (28,642 )   $ (85,731 )   $ (84,392 )
 
                                
Add (from continuing operations):
                                
Interest on indebtedness
     39,969       37,079       117,410       109,553  
Portion of rents representative of the interest factor
     522       511       1,519       1,485  
 
                        
Earnings
   $ 14,895     $ 8,948     $ 33,198     $ 26,646  
 
                        
 
                                
Fixed charges and preferred stock dividend (from continuing operations):
                                
Interest on indebtedness
   $ 39,969     $ 37,079     $ 117,410     $ 109,553  
Capitalized interest
     3,397       2,578       9,489       9,854  
Portion of rents representative of the interest factor
     522       511       1,519       1,485  
 
                        
Fixed charges
     43,888       40,168       128,418       120,892  
 
                        
 
                                
Add:
                                
Preferred stock dividend
     2,308       2,368       7,003       7,119  
Premium/(discount) on preferred stock repurchases
     —       —       175       (25 )
 
                                
 
                        
Combined fixed charges and preferred stock dividend
   $ 46,196     $ 42,536     $ 135,596     $ 127,986  
 
                        
 
                                
Ratio of earnings to fixed charges
     —       —       —       —  
 
                                
Ratio of earnings to combined fixed charges and preferred stock dividend
     —       —       —       —  
For the three months ended September 30, 2011, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of achieving a 1:1 ratio by $29.0 million and $31.3 million, respectively.
For the nine months ended September 30, 2011, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of achieving a 1:1 ratio by $95.2 million and $102.4 million, respectively.
For the three months ended September 30, 2010, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of achieving a 1:1 ratio by $31.2 million and $33.6 million, respectively.
For the nine months ended September 30, 2010, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of achieving a 1:1 ratio by $94.2 million and $101.3 million, respectively.