EX-12.2 6 a2q12ex122.htm 2Q12 Ex 12.2


 
 
 
 
Exhibit 12.2
 
COLONIAL REALTY LIMITED PARTNERSHIP
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
($ in thousands)
 
June 30,
 
June 30,
 
 
2012
 
2011
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
Pre-tax loss before adjustment for noncontrolling interest in
 
 
 
 
 
 
 
 
consolidated subsidiaries or income (loss) from equity investees,
 
 
 
 
 
 
 
 
extraordinary gain (loss), or gains (losses) on sale of properties
 
$
(5,582
)
 
$
(7,172
)
 
$
(13,219
)
 
$
(19,843
)
Amortization of interest capitalized
 
490

 
497

 
987

 
994

Interest capitalized
 
(350
)
 
(72
)
 
(535
)
 
(124
)
Distributed income of equity investees
 
185

 
995

 
471

 
2,072

Fixed Charges
 
25,029

 
21,984

 
49,700

 
44,433

Total Earnings
 
$
19,772

 
$
16,232

 
$
37,404

 
$
27,532

 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
Interest expense
 
23,277

 
20,759

 
46,330

 
41,998

Interest capitalized
 
350

 
72

 
535

 
124

Debt costs amortization
 
1,402

 
1,153

 
2,835

 
2,311

Total Fixed Charges
 
$
25,029

 
$
21,984

 
$
49,700

 
$
44,433

 
 
 
 
 
 
 
 
 
Ratio of Earning to Fixed Charges
 
 (a)
 
(a)
 
(a)
 
(a)

a)
For the three and six months ended June 30, 2012, the aggregate amount of fixed charges exceeded our earnings by approximately $5.3 million and $12.3 million, respectively, which is the amount of additional earnings that would have been required to achieve a ratio of earnings to fixed charges of 1.0x for such period. For the three and six months ended June 30, 2011, the aggregate amount of fixed charges exceeded our earnings by approximately $5.8 million and $16.9 million, respectively. The deficiency of the ratio of earnings to fixed charges for the periods presented is primarily a result of non-cash depreciation and amortization expense.