MID AMERICA APARTMENT COMMUNITIES INC. - FORM 10-Q - EX-12.1 - EXHIBIT 12.1 - July 27, 2017

Attached files

file filename
EX-32.4 - EXHIBIT 32.4 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit324-maalpq22017.htm
EX-32.3 - EXHIBIT 32.3 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit323-maalpq22017.htm
EX-32.2 - EXHIBIT 32.2 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit322-maaq22017.htm
EX-32.1 - EXHIBIT 32.1 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit321-maaq22017.htm
EX-31.4 - EXHIBIT 31.4 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit314-maalpq22017.htm
EX-31.3 - EXHIBIT 31.3 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit313-maalpq22017.htm
EX-31.2 - EXHIBIT 31.2 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit312-maaq22017.htm
EX-31.1 - EXHIBIT 31.1 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit311-maaq22017.htm
EX-12.2 - EXHIBIT 12.2 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit122-maalpq22017.htm
10-Q - 10-Q - MID AMERICA APARTMENT COMMUNITIES INC.maa630201710q.htm


EXHIBIT 12.1


Mid-America Apartment Communities, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)


 
Three months ended June 30,
 
Six months ended June 30,
 
2017
 
2016
 
2017
 
2016
Earnings:
 
 
 
 
 
 
 
Net Income
$
50,155

 
$
47,630

 
$
93,571

 
$
93,438

Equity in loss (income) of unconsolidated entities
(329
)
 
101

 
(686
)
 
(27
)
Income tax expense
618

 
457

 
1,269

 
745

Net income before equity in loss (income) of unconsolidated entities and income tax expense
50,444

 
48,188

 
94,154

 
94,156

Add:
 
 
 
 
 
 
 
Distribution of income from investments in unconsolidated entities
118

 
375

 
339

 
1,793

Fixed charges, less preferred distribution requirement of consolidated subsidiaries
40,688

 
32,367

 
79,292

 
64,958

Deduct:
 
 
 
 
 
 
 
Capitalized interest
2,207

 
328

 
4,227

 
708

Total Earnings (A)
$
89,043

 
$
80,602

 
$
169,558

 
$
160,199

Fixed charges and preferred dividends:
 
 
 
 
 
 
 
Interest expense
$
38,481

 
$
32,039

 
$
75,065

 
$
64,250

Capitalized interest
2,207

 
328

 
4,227

 
708

Total Fixed Charges (B)
$
40,688

 
$
32,367

 
$
79,292

 
$
64,958

Preferred dividends, including redemption costs
922

 
—

 
1,844

 
—

Total Fixed Charges and Stock Dividends (C)
$
41,610

 
$
32,367

 
$
81,136

 
$
64,958

 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges (A/B)
2.2 x

 
2.5 x

 
2.1 x

 
2.5 x

Ratio of Earnings to Fixed Charges and Preferred Dividends (A/C)
2.1 x

 
2.5 x

 
2.1 x

 
2.5 x




MID AMERICA APARTMENT COMMUNITIES INC. Reports