EX-12 2 exhibit12-computationofrat.htm EXHIBIT-RATION OF EARNINGS TO FIXED CHARGES Exhibit 12 - Computation of Ratio
Exhibit 12

Equity LifeStyle Properties, Inc.
Computation of Ratio of Earnings to
Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)

 
2012
2011
2010
2009
2008
Income before equity in income of unconsolidated joint ventures and gain (loss) on sale of property
$
67,963

$
40,556

$
58,601

$
48,499

$
34,813

Combined fixed charges and preferred stock dividends
139,137

116,292

107,291

114,454

115,574

Earnings
$
207,100

$
156,848

$
165,892

$
162,953

$
150,387

 
 
 
 
 
 
Interest incurred
$
119,119

$
96,253

$
88,750

$
95,740

$
96,606

Amortization of deferred financing costs and other
5,405

3,415

2,401

2,571

2,824

Perpetual Preferred OP unit Distributions
—

2,801

16,140

16,143

16,144

Preferred stock dividends
14,613

13,823

—

—

—

Combined fixed charges and preferred stock dividends
$
139,137

$
116,292

$
107,291

$
114,454

$
115,574

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
1.49

1.35

1.55

1.42

1.30