EX-12 6 c61160ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12 MANUFACTURED HOME COMMUNITIES, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollar amounts in thousands)
For the Years Ended December 31, 2000 1999 1998 1997 1996 -------------------------------------------------------------------- Income before allocation to Minority Interests and extraordinary loss on early extinguishment of debt $ 52,701 $ 36,835 $ 35,663 $ 33,469 $ 26,943 Fixed Charges 64,532 56,619 49,693 21,753 18,264 -------------------------------------------------------------------- Earnings $117,233 $ 93,454 $ 85,356 $ 55,222 $ 45,207 ==================================================================== Interest incurred $ 52,317 $ 53,134 $ 49,160 $ 20,708 $ 16,794 Amortization of deferred financing costs 963 641 533 1,045 1,470 Perpetual Preferred OP Unit Distributions 11,252 2,844 -------------------------------------------------------------------- Fixed Charges $ 64,532 $ 56,619 $ 49,693 $ 21,753 $ 18,264 ==================================================================== Earnings/Fixed Charges 1.82 1.65 1.72 2.54 2.48 ====================================================================