EX-12.2 4 exhibit122-maalpq12014.htm EXHIBIT 12.2 Exhibit 12.2 - MAALP Q1 2014


EXHIBIT 12.2


Mid-America Apartments, L.P.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)


 
Three months ended March 31,
 
2014
 
2013
Earnings:
 
 
 
Income from continuing operations
$
6,698

 
$
20,223

Equity in loss (income) of unconsolidated entities
24

 
(54
)
Income tax expense
270

 
223

Income from continuing operations before equity in loss (income) of unconsolidated entities and income tax expense
6,992

 
20,392

Add:
 
 
 
Distribution of income from investments in unconsolidated entities
8,865

 
4,964

Fixed charges, less preferred distribution requirement of consolidated subsidiaries
32,500

 
16,797

Deduct:
 
 
 
Capitalized interest
513

 
448

Total Earnings (A)
$
47,844

 
$
41,705

Fixed charges and preferred dividends:
 
 
 
Interest expense
$
30,676

 
$
15,545

Amortization of deferred financing costs
1,311

 
804

Capitalized interest
513

 
448

Total Fixed Charges (B)
$
32,500

 
$
16,797

Preferred dividends, including redemption costs

 

Total Fixed Charges and Stock Dividends (C)
$
32,500

 
$
16,797

 
 
 
 
Ratio of Earnings to Fixed Charges (A/B)
1.5 x

 
2.5 x

Ratio of Earnings to Fixed Charges and Preferred Dividends (A/C)
1.5 x

 
2.5 x