EX-12.2 9 exhibit122-12x31x2016.htm EXHIBIT 12.2 Exhibit


EXHIBIT 12.2

United Dominion Realty, L.P.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
 
 
2016
 
2015
 
2014
 
2013
 
2012
 
Earnings:
 
 
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations
$
46,082

 
$
56,940

 
$
33,544

 
$
32,766

 
$
(13,309
)
 
Add from continuing operations:
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness (a)
30,067

 
40,321

 
41,717

 
36,058

 
45,234

 
Portion of rents representative of the interest factor
1,826

 
1,868

 
1,751

 
1,705

 
1,665

 
Amortization of capitalized interest
744

 
734

 
725

 
580

 
398

 
Total earnings
$
78,719

 
$
99,863

 
$
77,737

 
$
71,109

 
$
33,988

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges from continuing operations:
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness (a)
$
30,067

 
$
40,321

 
$
41,717

 
$
36,058

 
$
45,234

 
Interest capitalized
206

 
182

 
2,890

 
5,870

 
3,679

 
Portion of rents representative of the interest factor
1,826

 
1,868

 
1,751

 
1,705

 
1,665

 
Fixed charges
$
32,099

 
$
42,371

 
$
46,358

 
$
43,633

 
$
50,578

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
2.45

 
2.36

 
1.68

 
1.63

 
—

(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 year ended December 31, 2012 as earnings were inadequate to cover fixed charges by deficiencies of approximately $16.6 million.