Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - COLONIAL PROPERTIES TRUST | c00443e10vq.htm |
| EX-10.1 - EXHIBIT 10.1 - COLONIAL PROPERTIES TRUST | c00443exv10w1.htm |
| EX-12.1 - EXHIBIT 12.1 - COLONIAL PROPERTIES TRUST | c00443exv12w1.htm |
| EX-32.4 - EXHIBIT 32.4 - COLONIAL PROPERTIES TRUST | c00443exv32w4.htm |
| EX-32.2 - EXHIBIT 32.2 - COLONIAL PROPERTIES TRUST | c00443exv32w2.htm |
| EX-31.3 - EXHIBIT 31.3 - COLONIAL PROPERTIES TRUST | c00443exv31w3.htm |
| EX-32.1 - EXHIBIT 32.1 - COLONIAL PROPERTIES TRUST | c00443exv32w1.htm |
| EX-32.3 - EXHIBIT 32.3 - COLONIAL PROPERTIES TRUST | c00443exv32w3.htm |
| EX-31.4 - EXHIBIT 31.4 - COLONIAL PROPERTIES TRUST | c00443exv31w4.htm |
| EX-31.1 - EXHIBIT 31.1 - COLONIAL PROPERTIES TRUST | c00443exv31w1.htm |
| EX-31.2 - EXHIBIT 31.2 - COLONIAL PROPERTIES TRUST | c00443exv31w2.htm |
Exhibit 12.2
COLONIAL REALTY LIMITED PARTNERSHIP |
Ratio of Earnings to Fixed Charges |
| For the three months ended | ||||||||
| March 31, | ||||||||
| (in thousands) | 2010 | 2009 | ||||||
Earnings: |
||||||||
Pre-tax (loss) income before adjustment for noncontrolling interest in
consolidated subsidiaries or income, loss from equity investees,
extraordinary gain or loss, or gains on sale of properties |
$ | (10,006 | ) | $ | 12,432 | |||
Amortization of interest capitalized |
963 | 900 | ||||||
Interest capitalized |
(368 | ) | (2,243 | ) | ||||
Distributed income of equity investees |
1,872 | 3,800 | ||||||
Fixed charges |
24,267 | 25,791 | ||||||
Total Earnings |
$ | 16,728 | $ | 40,680 | ||||
Fixed Charges: |
||||||||
Interest expense |
$ | 20,901 | $ | 20,432 | ||||
Capitalized interest |
368 | 2,243 | ||||||
Debt costs amortization |
1,185 | 1,303 | ||||||
Distributions to Series B preferred unitholders |
1,813 | 1,813 | ||||||
Total Fixed Charges |
$ | 24,267 | $ | 25,791 | ||||
Ratio of Earnings to Fixed Charges |
(a) | 1.6 | ||||||
| a) | For the three months ended March 31, 2010, the aggregate amount of fixed charges exceeded our earnings by approximately $7.5 million, which is the amount of additional earnings that would have been required to achieve a ratio of earnings to fixed charges of 1.0x for such period. The deficiency of the ratio of earnings to fixed charges for the period is primarily due to a decline in net operating income as the result of pressure on net effective rents driven by deteriorating economic conditions. |
The ratios of earnings to fixed charges were computed by dividing earnings by
fixed charges. For this purpose, earnings consist of pre-tax income from
continuing operations before adjustment for noncontrolling interest in
consolidated subsidiaries or income or loss from equity investees, gains on
sale of properties, distributed income of equity investees, fixed charges and
amortization of capitalized interest excluding interest costs capitalized.
Fixed charges consist of interest expense (including interest costs
capitalized) and amortization of debt issuance costs.
69