EX-12.1 3 exhibit121-3x31x2016.htm EXHIBIT 12.1 Exhibit



EXHIBIT 12.1

UDR, Inc.
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
 
Three Months Ended March 31,
 
 
2016
 
2015
 
Earnings:
 
 
 
 
Income/(loss) from continuing operations
$
8,534

 
$
76,417

 
Add (from continuing operations):
 
 
 
 
Interest on indebtedness (a)
31,104

 
28,800

 
Portion of rents representative of the interest factor
483

 
455

 
Amortization of capitalized interest
1,052

 
931

 
Total earnings
$
41,173

 
$
106,603

 
Fixed charges and preferred stock dividends (from continuing operations):
 
 
 
 
Interest on indebtedness (a)
$
31,104

 
$
28,800

 
Interest capitalized
4,203

 
4,839

 
Portion of rents representative of the interest factor
483

 
455

 
Fixed charges
$
35,790

 
$
34,094

 
 
 
 
 
 
Add:
 
 
 
 
Preferred stock dividends
929

 
931

 
Combined fixed charges and preferred stock dividends
$
36,719

 
$
35,025

 
 
 
 
 
 
Ratio of earnings to fixed charges
1.15

 
3.13

 
Ratio of earnings to combined fixed charges and preferred stock dividends
1.12

 
3.04

 
(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.