EX-12 5 umh-ex12_122010.htm COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS umh-ex12_122010.htm
Exhibit 12
 
 
UMH
              
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
      
               
               
 
Nine Months
            
 
Ended
    
Year Ended December 31
  
 
9/30/2010
  
2009
2008
2007
2006
2005
               
Net Income
4,554,940
  
3,689,388
1,527,150
2,632,741
5,840,277
6,990,342
Income and Franchise Taxes
135,000
  
63,000
118,000
489,000
276,000
388,000
Income Before Taxes
4,689,940
  
3,752,388
1,645,150
3,121,741
6,116,277
7,378,342
               
Fixed Charges:
              
    Interest expense
3,809,877
  
4,455,332
4,957,437
4,179,109
3,273,720
2,200,765
    Amortization - deferred debt costs
165,858
  
253,020
183,464
177,636
238,211
262,440
Total Fixed Charges
3,975,735
  
4,708,352
5,140,901
4,356,745
3,511,931
2,463,205
               
Earnings
8,665,675
  
8,460,740
6,786,051
7,478,486
9,628,208
9,841,547
               
Fixed Charges
3,975,735
  
4,708,352
5,140,901
4,356,745
3,511,931
2,463,205
Preferred Stock Dividends
              
Combined  Fixed Charges &
              
   Preferred Stock Dividends
3,975,735
  
4,708,352
5,140,901
4,356,745
3,511,931
2,463,205
               
Ratio of Earnings to Fixed charges
2.18
  
1.80
1.32
1.72
2.74
4.00
Ratio of Earnings to Combined Fixed
              
   Charges and Preferred Stock Dividends
2.18
  
1.80
1.32
1.72
2.74
4.00