-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QtJGn7nV35atGAK4Gzoa8baCvwn4+On2sfhEFakIa6yIz3WOUKBc339wyNfFkiHy IrGf7ALXDqrYFh7z9FTj5A== 0000912595-02-000066.txt : 20021010 0000912595-02-000066.hdr.sgml : 20021010 20021010170554 ACCESSION NUMBER: 0000912595-02-000066 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021010 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021010 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MID AMERICA APARTMENT COMMUNITIES INC CENTRAL INDEX KEY: 0000912595 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 621543819 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12762 FILM NUMBER: 02786640 BUSINESS ADDRESS: STREET 1: 6584 POPLAR AVE STREET 2: STE 340 CITY: MEMPHIS STATE: TN ZIP: 38138 BUSINESS PHONE: 9016826600 MAIL ADDRESS: STREET 1: 6584 POPLAR AVE STREET 2: SUITE 340 CITY: MEMPHIS STATE: TN ZIP: 38138 8-K 1 ex12psf.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 Form 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 October 10, 2002 Date of Report (Date of earliest event reported) MID-AMERICA APARTMENT COMMUNITIES, INC. (Exact Name of Registrant as Specified in Charter) TENNESSEE 1-12762 62-1543819 (State of Incorporation) (Commission File Number) (I.R.S. Employer Identification Number) 6584 POPLAR AVENUE, SUITE 300 MEMPHIS, TENNEESSEE 38138 (Address of principal executive offices) (901) 682-6600 (Registrant's telephone number, including area code) (Former name or address, if changed since last report) Item 5. Other Events In connection with the offering of up to 1,050,000 (1,100,000 if the underwriters' over-allotment option is fully exercised) shares of the Series F Cumulative Redeemable Preferred Stock, par value $0.01 per share (liquidation preference $25 per share) (the "Series F Preferred Stock"), of Mid-America Apartment Communities, Inc. (the "Company"), attached to this report are the exhibits listed below. Item 7. Financial Statements and Exhibits. (c) Exhibits. The following exhibits are filed pursuant to Item 601 of Regulation S-K: Number Description 12.1 Statement regarding computation of ratios SIGNATURES Pursuant to the requirements of the Securities Exchnage Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. MID-AMERICA APARTMENT COMMUNITIES, INC. Date: October 10, 2002 /s/Simon R.C. Wadsworth Simon R.C. Wadsworth Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer) EXHIBIT 12.1
Dollars in thousands Six Months Ended June 30, Year Ended December 31, ----------------------- ------------------------------------------------------- 2002 2001 2001 2000 1999 1998 1997 ---------- ----------- ---------- ---------- --------- --------- --------- Income before gains on dispositions, minority interest in operating partnership income and extraordinary items $ 9,071 $ 9,993 $ 20,371 $ 21,030 $ 25,899 $ 29,593 $ 22,542 Equity in loss of real estate joint venture 213 111 296 157 31 - - Fixed charges: Interest expense 24,724 27,302 52,598 50,736 48,302 45,704 28,943 Estimate of interest within rental expense - 88 158 407 77 41 56 Deferred financing costs 1,321 1,165 2,352 2,758 2,854 2,348 888 Interest capitalized 239 811 1,382 3,730 3,967 4,265 388 Distributed income of equity investees 121 253 289 267 - - - - ------------------------------------------------------------------------------------------------------------------------------------ 35,689 39,723 77,446 79,085 81,130 81,951 52,817 Interest capitalized (239) (811) (1,382) (3,730) (3,967) (4,265) (388) Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges - - - - - - - - ------------------------------------------------------------------------------------------------------------------------------------ Earnings $ 35,450 $ 38,912 $ 76,064 $ 75,355 $ 77,163 $ 77,686 $ 52,429 - ------------------------------------------------------------------------------------------------------------------------------------ Fixed charges: Interest expense $ 24,724 $ 27,302 $ 52,598 $ 50,736 $ 48,302 $ 45,704 $ 28,943 Estimate of interest within rental expense - 88 158 407 77 41 56 Deferred financing costs 1,321 1,165 2,352 2,758 2,854 2,348 888 Interest capitalized 239 811 1,382 3,730 3,967 4,265 388 - ------------------------------------------------------------------------------------------------------------------------------------ Fixed charges $ 26,284 $ 29,366 $ 56,490 $ 57,631 $ 55,200 $ 52,358 $ 30,275 - ------------------------------------------------------------------------------------------------------------------------------------ Ratio of earnings to fixed charges 1.3x 1.3x 1.3x 1.3x 1.4x 1.5x 1.7x Fixed charges: Interest expense $ 24,724 $ 27,302 $ 52,598 $ 50,736 $ 48,302 $ 45,704 $ 28,943 Estimate of interest within rental expense - 88 158 407 77 41 56 Deferred financing costs 1,321 1,165 2,352 2,758 2,854 2,348 888 Interest capitalized 239 811 1,382 3,730 3,967 4,265 388 Preferred stock dividends 8,057 8,057 16,113 16,114 16,114 11,430 5,252 - ------------------------------------------------------------------------------------------------------------------------------------ Combined fixed charges and preferred stock dividends $ 34,341 $ 37,423 $ 72,603 $ 73,745 $ 71,314 $ 63,788 $ 35,527 - ------------------------------------------------------------------------------------------------------------------------------------ Ratio of earnings to combined fixed charges and preferred stock dividends 1.0x 1.0x 1.1x 1.0x 1.1x 1.2x 1.5x
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