EX-12 6 c68299ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 MANUFACTURED HOME COMMUNITIES, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollar amounts in thousands)
For the Years Ended December 31, -------------------------------------------------------- 2001 2000 1999 1998 1997 -------- -------- -------- -------- -------- Income before allocation to Minority Interests and extraordinary loss on early extinguishment of debt $ 51,544 $ 52,701 $ 36,835 $ 35,663 $ 33,469 Fixed Charges 62,557 64,532 56,619 49,693 21,753 -------- -------- -------- -------- -------- Earnings $114,101 $117,233 $ 93,454 $ 85,356 $ 55,222 ======== ======== ======== ======== ======== Interest incurred $ 50,197 $ 52,317 $ 53,134 $ 49,160 $ 20,708 Amortization of deferred financing costs 1,108 963 641 533 1,045 Perpetual Preferred OP Unit Distributions 11,252 11,252 2,844 -- -- -------- -------- -------- -------- -------- Fixed Charges $ 62,557 $ 64,532 $ 56,619 $ 49,693 $ 21,753 ======== ======== ======== ======== ======== Earnings/Fixed Charges 1.82 1.82 1.65 1.72 2.54 ======== ======== ======== ======== ========