EX-12.1 2 c208-20180630ex121ab83dd.htm EX-12.1 udr_Ex12_1

 

EXHIBIT 12.1

 

UDR, Inc.

 

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30, 

 

June 30, 

 

 

2018

 

2017

 

2018

 

2017

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Income/(loss) from continuing operations

 

$

22,444

 

$

11,062

 

$

41,369

 

$

37,326

Add (from continuing operations):

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness (a)

 

 

31,598

 

 

33,866

 

 

61,541

 

 

64,405

Portion of rents representative of the interest factor

 

 

559

 

 

690

 

 

1,057

 

 

1,174

Amortization of capitalized interest

 

 

1,438

 

 

1,288

 

 

2,806

 

 

2,482

Total earnings

 

$

56,039

 

$

46,906

 

$

106,773

 

$

105,387

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges and preferred stock dividends (from continuing operations):

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness (a)

 

$

31,598

 

$

33,866

 

$

61,541

 

$

64,405

Interest capitalized

 

 

3,603

 

 

4,646

 

 

8,176

 

 

9,352

Portion of rents representative of the interest factor

 

 

559

 

 

690

 

 

1,057

 

 

1,174

Fixed charges

 

$

35,760

 

$

39,202

 

$

70,774

 

$

74,931

 

 

 

 

 

 

 

 

 

 

 

 

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock dividends

 

 

971

 

 

929

 

 

1,926

 

 

1,858

Combined fixed charges and preferred stock dividends

 

$

36,731

 

$

40,131

 

$

72,700

 

$

76,789

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

1.57

 

 

1.20

 

 

1.51

 

 

1.41

Ratio of earnings to combined fixed charges and preferred stock dividends

 

 

1.53

 

 

1.17

 

 

1.47

 

 

1.37

(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.