Attached files

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EX-99.1 - EX-99.1 - INDEPENDENCE REALTY TRUST, INC.irt-ex991_13.htm
EX-32.2 - EX-32.2 - INDEPENDENCE REALTY TRUST, INC.irt-ex322_10.htm
EX-32.1 - EX-32.1 - INDEPENDENCE REALTY TRUST, INC.irt-ex321_8.htm
EX-31.2 - EX-31.2 - INDEPENDENCE REALTY TRUST, INC.irt-ex312_16.htm
EX-31.1 - EX-31.1 - INDEPENDENCE REALTY TRUST, INC.irt-ex311_7.htm
EX-23.1 - EX-23.1 - INDEPENDENCE REALTY TRUST, INC.irt-ex231_6.htm
EX-21.1 - EX-21.1 - INDEPENDENCE REALTY TRUST, INC.irt-ex211_15.htm
EX-4.1.13 - EX-4.1.13 - INDEPENDENCE REALTY TRUST, INC.irt-ex4113_338.htm
10-K - 10-K - INDEPENDENCE REALTY TRUST, INC.irt-10k_20171231.htm

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

Our ratio of earnings to fixed charges for the periods indicated are set forth below. For purposes of calculating the ratios set forth below, earnings represent net income from our consolidated statements of operations, as adjusted for fixed charges; fixed charges represent interest expense.

The following table presents our ratio of earnings to fixed charges for the five years ended December 31, 2017 2016, 2015, 2014, and 2013 (dollars in thousands):

 

For the Years Ended December 31

 

 

2017

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

Net income (loss)

$

31,441

 

 

$

(9,555

)

 

$

30,156

 

 

$

2,944

 

 

$

1,274

 

Add back fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

28,702

 

 

 

35,535

 

 

 

23,553

 

 

 

8,469

 

 

 

3,659

 

Earnings before fixed charges and preferred share dividends

$

60,143

 

 

$

25,980

 

 

$

53,709

 

 

 

11,413

 

 

 

4,933

 

Fixed charges and preferred share dividends:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

28,702

 

 

 

35,535

 

 

 

23,553

 

 

 

8,469

 

 

 

3,659

 

Preferred share dividends

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

10

 

Total fixed charges and preferred share dividends

$

28,702

 

 

$

35,535

 

 

$

23,553

 

 

$

8,469

 

 

$

3,669

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

2.1x

 

 

 

-

 

 

2.3x

 

 

1.3x

 

 

1.3x

 

Ratio of earnings to fixed charges and preferred share dividends

2.1x

 

 

 

-

 

 

2.3x

 

 

1.3x

 

 

1.3x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) The dollar amount of the deficiency for the year ended December 31, 2016 is $9.6 million