EX-12 3 d46318exv12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 

EXHIBIT 12
 
UDR, Inc.
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
 
                 
    Three months ended March 31,  
    2007     2006  
 
Loss before discontinued operations, net of minority interests
  $ (8,129 )   $ (6,533 )
Add (from continuing operations):
               
Interest on indebtedness
    44,194       44,470  
Minority interests
    (694 )     (660 )
Portion of rents representative of the interest factor
    200       168  
                 
Earnings
  $ 35,571     $ 37,445  
                 
Fixed charges and preferred stock dividend (from continuing operations):
               
Interest on indebtedness
  $ 44,194     $ 44,470  
Capitalized interest
    1,775       835  
Portion of rents representative of the interest factor
    200       168  
                 
Fixed charges
    46,169       45,473  
                 
Add:
               
Preferred stock dividend
    3,842       3,842  
                 
Combined fixed charges and preferred stock dividend
  $ 50,011     $ 49,315  
                 
Ratio of earnings to fixed charges
    —       —  
Ratio of earnings to combined fixed charges and preferred stock dividend
    —       —  
 
For the three months ended March 31, 2007 and 2006, the ratio of earnings to fixed charges was deficient of achieving a 1:1 ratio by $10.6 million and $8.0 million, respectively.
 
For the three months ended March 31, 2007 and 2006, the ratio of earnings to combined fixed charges and preferred stock dividend was deficient of achieving a 1:1 ratio by $14.4 million and $11.9 million, respectively.