EX-12.2 3 exhibit122-20141231.htm EXHIBIT 12.2 Exhibit 12.2 - 2014.12.31


EXHIBIT 12.2

United Dominion Realty, L.P.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)

 
Year Ended December 31,
 
 
2014
 
2013
 
2012
 
2011
 
2010
 
Earnings:
 
 
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations
$
33,544

 
$
32,766

 
$
(13,309
)
 
$
(40,744
)
 
$
(30,937
)
 
Add from continuing operations:
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness (a)
41,717

 
36,058

 
45,234

 
52,817

 
49,140

 
Portion of rents representative of the interest factor
1,751

 
1,705

 
1,665

 
1,627

 
1,564

 
Amortization of capitalized interest
725

 
580

 
398

 
291

 
258

 
Total earnings
$
77,737

 
$
71,109

 
$
33,988

 
$
13,991

 
$
20,025

 
Fixed charges from continuing operations:
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness (a)
$
41,717

 
$
36,058

 
$
45,234

 
$
52,817

 
$
49,140

 
Interest capitalized
2,890

 
5,870

 
3,679

 
1,752

 
1,340

 
Portion of rents representative of the interest factor
1,751

 
1,705

 
1,665

 
1,627

 
1,564

 
Fixed charges
$
46,358

 
$
43,633

 
$
50,578

 
$
56,196

 
$
52,044

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
1.68

 
1.63

 
—

(b)
—

(b)
—

(b)
(a) Includes interest expense of consolidated subsidiaries, amortization of deferred loan costs, realized losses related to hedging activities and amortization of premiums and discounts related to indebtedness.

(b) The ratio was less than 1:1 for the years ended December 31, 2012, 2011, and 2010 as earnings were inadequate to cover fixed charges by deficiencies of approximately $16.6 million, $42.2 million, and $32.0 million, respectively.