EX-12 6 a2086273zex-12.txt RATIO OF EARNINGS Exhibit 12 EQUITY RESIDENTIAL CONSOLIDATED HISTORICAL COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
HISTORICAL ---------------------------------------------------------------------------------------- 6/30/02 6/30/01 12/31/01 12/31/00 12/31/99 12/31/98 12/31/97 ---------------------------------------------------------------------------------------- (Amounts in thousands) Income before allocation to Minority Interests, income from investments in unconsolidated entities, net gain on sales of unconsolidated entities, discontinued operations, extraordinary items and cumulative effect of change in accounting principle $ 192,833 $ 204,896 $ 356,424 $ 395,937 $ 326,483 $ 251,927 $ 176,014 Interest and other financing costs 171,993 178,660 355,250 366,622 330,548 246,585 121,324 Amortization of deferred financing costs 2,988 2,810 5,841 5,473 4,084 2,757 2,523 Income from investments in unconsolidated entities 233 960 3,772 2,309 3,850 3,105 - ---------- ---------- ---------- ---------- ---------- ---------- ---------- EARNINGS BEFORE COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS 368,047 387,326 721,287 770,341 664,965 504,374 299,861 Preferred distributions 48,781 57,419 106,119 111,941 113,196 92,917 59,012 ---------- ---------- ---------- ---------- ---------- ---------- ---------- EARNINGS BEFORE COMBINED FIXED CHARGES $ 319,266 $ 329,907 $ 615,168 $ 658,400 $ 551,769 $ 411,457 $ 240,849 ========== ========== ========== ========== ========== ========== ========== Interest and other financing costs $ 171,993 $ 178,660 $ 355,250 $ 366,622 $ 330,548 $ 246,585 $ 121,324 Amortization of deferred financing costs 2,988 2,810 5,841 5,473 4,084 2,757 2,523 Interest capitalized for real estate and unconsolidated entities under development 12,323 12,817 28,174 17,650 8,134 1,620 - ---------- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL COMBINED FIXED CHARGES 187,304 194,287 389,265 389,745 342,766 250,962 123,847 Preferred distributions 48,781 57,419 106,119 111,941 113,196 92,917 59,012 ---------- ---------- ---------- ---------- ---------- ---------- ---------- TOTAL COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS $ 236,085 $ 251,706 $ 495,384 $ 501,686 $ 455,962 $ 343,879 $ 182,859 ========== ========== ========== ========== ========== ========== ========== RATIO OF EARNINGS BEFORE COMBINED FIXED CHARGES TO TOTAL COMBINED FIXED CHARGES 1.70 1.70 1.58 1.69 1.61 1.64 1.94 ========== ========== ========== ========== ========== ========== ========== RATIO OF EARNINGS BEFORE COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS TO TOTAL COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS 1.56 1.54 1.46 1.54 1.46 1.47 1.64 ========== ========== ========== ========== ========== ========== ==========