American Homes 4 Rent - FORM 10-K - EX-12.1 - March 2, 2015

Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - American Homes 4 RentFinancial_Report.xls
EX-32.1 - EX-32.1 - American Homes 4 Renta2223305zex-32_1.htm
EX-21.1 - EX-21.1 - American Homes 4 Renta2223305zex-21_1.htm
EX-31.1 - EX-31.1 - American Homes 4 Renta2223305zex-31_1.htm
EX-31.2 - EX-31.2 - American Homes 4 Renta2223305zex-31_2.htm
EX-23.1 - EX-23.1 - American Homes 4 Renta2223305zex-23_1.htm
EX-10.39 - EX-10.39 - American Homes 4 Renta2223305zex-10_39.htm
10-K - 10-K - American Homes 4 Renta2223305z10-k.htm

QuickLinks -- Click here to rapidly navigate through this document


Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

        We compute our ratio of earnings to combined fixed charges and preferred distributions by dividing our earnings by the sum of our fixed charges and preferred distributions. We compute our ratio of earnings to fixed charges by dividing our earnings by our fixed charges. Earnings consist of net income before interest expense and noncontrolling interests that have fixed charges.

 
    
    
    
   Period from
June 23,
2011 to
December 31,
2011 		 
 
   Year Ended December 31,  
(Amounts in thousands)
   2014   2013 (1)   2012  

Earnings

                          

Loss from continued operations

   $ (33,092 ) $ (20,074 ) $ (10,236 ) $ (42 )

Fixed charges

     70,605     26,239     —     —  

Less: capitalized interest

     (13,196 )   (9,646 )   —     —  

Less: gain on remeasurement of equity method investment

     —     (10,945 )   —     —  

Remeasurement of Series E units

     5,119     2,057     —     —  

Remeasurement of Preferred shares

     6,158     1,810     —     —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total earnings

   $ 35,594   $ (10,559 ) $ (10,236 ) $ (42 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fixed charges

                          

Interest expense

   $ 19,881   $ 370   $ —   $ —  

Capitalized interest

     13,196     9,646     —     —  

Preferred distributions (2)

     37,528     16,223     —     —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges

   $ 70,605   $ 26,239   $ —   $ —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Deficiency

   $ (35,011 ) $ (36,798 ) $ (10,236 ) $ (42 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ratio of earnings to fixed charges

     0.50     N/A     N/A     N/A  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(1)
Excludes discontinued operations.
(2)
Includes distributions of $6.3 million on Series A preferred shares, $5.7 million on Series B preferred shares, $6.9 million on Series C preferred shares and $18.6 million on Series C convertible units for the year ended December 31, 2014. Includes distributions of $1.2 million on Series A preferred shares, $14.9 million on Series C convertible units and $0.2 million on 3.5% convertible perpetual preferred units for the year ended December 31, 2013.



QuickLinks

RATIO OF EARNINGS TO FIXED CHARGES

Stock widget

Investing forum

American Homes 4 Rent Reports

Also read