Attached files
| file | filename |
|---|---|
| EX-23 - EX-23 - UDR, Inc. | d71186exv23.htm |
| EX-21 - EX-21 - UDR, Inc. | d71186exv21.htm |
| EX-32.2 - EX-32.2 - UDR, Inc. | d71186exv32w2.htm |
| EX-31.2 - EX-31.2 - UDR, Inc. | d71186exv31w2.htm |
| EX-31.1 - EX-31.1 - UDR, Inc. | d71186exv31w1.htm |
| EX-32.1 - EX-32.1 - UDR, Inc. | d71186exv32w1.htm |
| 10-K - FORM 10-K - UDR, Inc. | d71186e10vk.htm |
Exhibit 12
UDR,
INC.
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
| Years Ended December 31, | ||||||||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
|
(Loss)/income from continuing operations
|
$ | (94,047 | ) | $ | (62,306 | ) | $ | 44,660 | $ | (77,772 | ) | $ | (50,084 | ) | ||||||
|
Add (from continuing operations):
|
||||||||||||||||||||
|
Interest on indebtedness(a)
|
149,427 | 162,726 | 168,338 | 182,798 | 159,433 | |||||||||||||||
|
Portion of rents representative of the interest factor
|
2,351 | 1,883 | 871 | 679 | 667 | |||||||||||||||
|
Earnings
|
$ | 57,731 | $ | 102,303 | $ | 213,869 | $ | 105,705 | $ | 110,016 | ||||||||||
|
Fixed charges and preferred stock dividend (from continuing
operations:
|
||||||||||||||||||||
|
Interest on indebtedness(a)
|
$ | 149,427 | $ | 162,726 | $ | 168,338 | $ | 182,798 | $ | 159,433 | ||||||||||
|
Capitalized interest
|
(16,929 | ) | 14,857 | 13,244 | 5,173 | 2,769 | ||||||||||||||
|
Portion of rents representative of the interest factor
|
2,351 | 1,883 | 871 | 679 | 667 | |||||||||||||||
|
Fixed charges
|
134,849 | 179,466 | 182,453 | 188,650 | 162,869 | |||||||||||||||
|
Add:
|
||||||||||||||||||||
|
Preferred stock dividend
|
10,912 | 12,138 | 13,910 | 15,370 | 15,370 | |||||||||||||||
|
(Discount)/premium on preferred stock
|
(2,586 | ) | (3,056 | ) | 2,261 | — | — | |||||||||||||
|
Combined fixed charges and preferred stock dividend
|
$ | 143,175 | $ | 188,548 | $ | 198,624 | $ | 204,020 | $ | 178,239 | ||||||||||
|
Ratio of earnings to fixed charges
|
— | — | 1.17 | — | — | |||||||||||||||
|
Ratio of earnings to combined fixed charges and preferred stock
|
— | — | 1.08 | — | — | |||||||||||||||
For the year ended December 31, 2009, the ratio of earnings
to fixed charges was deficient of achieving a 1:1 ratio by
$77.1 million.
For the year ended December 31, 2009, the ratio of earnings
to combined fixed charges and preferred stock was deficient of
achieving a 1:1 ratio by $85.4 million.
For the year ended December 31, 2008, the ratio of earnings
to fixed charges was deficient of achieving a 1:1 ratio by
$77.2 million.
For the year ended December 31, 2008, the ratio of earnings
to combined fixed charges and preferred stock was deficient of
achieving a 1:1 ratio by $86.2 million.
For the year ended December 31, 2006, the ratio of earnings
to fixed charges was deficient of achieving a 1:1 ratio by
$82.9 million.
For the year ended December 31, 2006, the ratio of earnings
to combined fixed charges and preferred stock was deficient of
achieving a 1:1 ratio by $98.3 million.
For the year ended December 31, 2005, the ratio of earnings
to fixed charges was deficient of achieving a 1:1 ratio by
$52.9 million.
For the year ended December 31, 2005, the ratio of earnings
to combined fixed charges and preferred stock was deficient of
achieving a 1:1 ratio by $68.2 million.
(a) Interest on indebtedness for the year ended
December 31, 2009 is presented gross of the gain on debt
extinguishment of $9.8 million, the prepayment penalty on
debt restructure of $1.0 million, and expenses related to
tender offer of $1.6 million. Interest on indebtedness for
the year ended December 31, 2008 is presented gross of the
gain on debt extinguishment of $26.3 million and prepayment
penalty on debt restructure of $4.2 million.