EX-12.1 2 udr-2012630x10qxex121.htm EXHIBIT 12.1
EXHIBIT 12.1
UDR, Inc.
Computation of Ratio Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)

| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2012 |  | 2011 |  | 2012 |  | 2011
Loss from continuing operations | $ | (23,123 | ) |  | $ | (34,130 | ) |  | $ | (21,382 | ) |  | $ | (66,977 | )
Add (from continuing operations): |  |  |  |  |  |  |
Interest on indebtedness (a) | 41,542 |  |  | 37,660 |  |  | 76,287 |  |  | 76,817 |
Portion of rents representative of the interest factor | 517 |  |  | 503 |  |  | 1,033 |  |  | 998 |
| $ | 18,936 |  |  | $ | 4,033 |  |  | $ | 55,938 |  |  | $ | 10,838 |
Fixed charges and preferred stock dividends (from continuing operations): |  |  |  |  |  |  |
Interest on indebtedness | $ | 41,542 |  |  | $ | 37,660 |  |  | $ | 76,287 |  |  | $ | 76,817 |
Capitalized interest | 5,136 |  |  | 3,488 |  |  | 9,988 |  |  | 6,092 |
Portion of rents representative of the interest factor | 517 |  |  | 503 |  |  | 1,033 |  |  | 998 |
Fixed charges | $ | 47,195 |  |  | $ | 41,651 |  |  | $ | 87,308 |  |  | $ | 83,907 |
Add: |  |  |  |  |  |  |
Preferred stock dividends | $ | 1,840 |  |  | $ | 2,327 |  |  | $ | 4,148 |  |  | $ | 4,695 |
Premium on preferred stock | 2,791 |  |  | 175 |  |  | 2,791 |  |  | 175 |
Combined fixed charges and preferred stock dividends | $ | 51,826 |  |  | $ | 44,153 |  |  | $ | 94,247 |  |  | $ | 88,777 |
Ratio of earnings to fixed charges | — |  |  | — |  |  | — |  |  | — |
Ratio of earnings to combined fixed charges and preferred stock | — |  |  | — |  |  | — |  |  | — |

For the three months ending June 30, 2012, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of 1:1 ratio by $28.3 million and $32.9 million, respectively.
For the six months ending June 30, 2012, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of 1:1 ratio by $31.4 million and $38.3 million, respectively.
For the three months ending June 30, 2011, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of 1:1 ratio by $37.6 million and $40.1 million, respectively.
For the six months ending June 30, 2011, the ratio of earnings to fixed charges and the ratio of combined fixed charges and preferred stock dividends was deficient of 1:1 ratio by $73.1 million and $77.9 million, respectively.