EX-12.1 2 exhibit121-maalpq32013.htm EXHIBIT 12.1 Exhibit 12.1 - MAALP Q3 2013


EXHIBIT 12.1


Mid-America Apartments, L.P.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)


 
Three months ended September 30,
Nine months ended September 30,
 
2013
2012
2013
2012
Earnings:
 
 
 
 
Income from continuing operations
$
16,619

$
15,134

$
53,746

$
43,886

Equity in (income) loss of unconsolidated entities
(60
)
72

(161
)
170

Income from continuing operations before equity in (income) loss of unconsolidated entities
16,559

15,206

53,585

44,056

Add:
 
 
 
 
Distribution of income from investments in unconsolidated entities
114

1,101

8,311

11,880

Fixed charges, less preferred distribution requirement of consolidated subsidiaries
16,007

15,967

49,260

46,483

Deduct:
 
 
 
 
Capitalized interest
246

466

1,118

1,435

Total Earnings (A)
$
32,434

$
31,808

$
110,038

$
100,984

Fixed charges:
 
 
 
 
Interest expense
$
14,941

$
14,530

$
45,715

$
42,437

Amortization of deferred financing costs
820

971

2,427

2,611

Capitalized interest
246

466

1,118

1,435

Total Fixed Charges (B)
$
16,007

$
15,967

$
49,260

$
46,483

 
 
 
 
 
Ratio of Earnings to Fixed Charges (A/B)
 2.0x

 2.0x

 2.2x

 2.2x