EX-12.1 2 udr-2012630x10qxex121.htm EXHIBIT 12.1 UDR-2012.6.30-10Q-Ex.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.