EX-12.1 4 a2221053zex-12_1.htm EX-12.1

Exhibit 12.1

 

American Homes 4 Rent

Exhibit 12.1 Ratio of Earnings to Fixed Charges

June 30, 2014

 

 

 

Six Months Ended

 

Year Ended

 

Year Ended

 

Period from

 

 

 

June 30,

 

December 31,

 

December 31,

 

23-Jun-11

 

 

 

2014

 

2013 (a)

 

2012

 

to December 31, 2011

 

 

 

(in thousands)

 

(in thousands)

 

(in thousands)

 

(in thousands)

 

Fixed charges:

 

 

 

 

 

 

 

 

 

Interest expense

 

5,390

 

370

 

—

 

—

 

Capitalized interest

 

5,338

 

9,646

 

—

 

—

 

Preferred distributions (b) 

 

16,994

 

16,223

 

—

 

—

 

Total fixed charges

 

27,722

 

26,239

 

—

 

—

 

Earnings available for fixed charges:

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

(10,304

)

(20,074

)

(10,236

)

(42

)

Fixed charges

 

27,722

 

26,239

 

—

 

—

 

Less: capitalized interest

 

(5,338

)

(9,646

)

—

 

—

 

Less: gain on remeasurement of equity method investment

 

—

 

(10,945

)

—

 

—

 

Remeasurement of Series E units

 

7,700

 

2,057

 

—

 

—

 

Remeasurement of Preferred shares

 

598

 

1,810

 

—

 

—

 

Total earnings available for fixed charges

 

20,378

 

(10,559

)

(10,236

)

(42

)

Ratio of earnings to fixed charges

 

(d)

 

(c)

 

n/a

 

n/a