EX-12 2 exhibit12-computationofrat.htm EXHIBIT 12 - COMPUTATION OF RATIO 2016 Exhibit
Exhibit 12

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

 
2016
2015
2014
2013
2012
Income before equity in income of unconsolidated joint ventures
$
184,527

$
146,423

$
132,433

$
75,208

$
61,848

Combined fixed charges and preferred stock dividends
111,256

114,957

121,569

127,802

138,605

Earnings
$
295,783

$
261,380

$
254,002

$
203,010

$
200,453

 
 
 
 
 
 
Interest incurred
$
98,316

$
101,777

$
107,866

$
113,566

$
118,596

Amortization of deferred financing costs and other
3,714

3,954

4,429

4,956

5,396

Perpetual Preferred OP unit Distributions
—

—

—

—

—

Preferred stock dividends
9,226

9,226

9,274

9,280

14,613

Combined fixed charges and preferred stock dividends
$
111,256

$
114,957

$
121,569

$
127,802

$
138,605

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
2.66

2.27

2.09

1.59

1.45