MID AMERICA APARTMENT COMMUNITIES INC. - FORM 10-Q - EX-12.1 - EXHIBIT 12.1 - May 3, 2018

Attached files

file filename
EX-32.4 - EXHIBIT 32.4 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit324-maalpq12018.htm
EX-32.3 - EXHIBIT 32.3 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit323-maalpq12018.htm
EX-32.2 - EXHIBIT 32.2 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit322-maaq12018.htm
EX-32.1 - EXHIBIT 32.1 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit321-maaq12018.htm
EX-31.4 - EXHIBIT 31.4 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit314-maalpq12018.htm
EX-31.3 - EXHIBIT 31.3 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit313-maalpq12018.htm
EX-31.2 - EXHIBIT 31.2 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit312-maaq12018.htm
EX-31.1 - EXHIBIT 31.1 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit311-maaq12018.htm
EX-12.2 - EXHIBIT 12.2 - MID AMERICA APARTMENT COMMUNITIES INC.exhibit122-maalpq12018.htm
10-Q - 10-Q - MID AMERICA APARTMENT COMMUNITIES INC.maa331201810-q.htm


EXHIBIT 12.1


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


 
Three months ended March 31,
 
2018
 
2017
Earnings:
 
 
 
Net income
$
50,820

 
$
43,416

Equity in income of unconsolidated entities
(498
)
 
(357
)
Income tax expense
640

 
651

Net income before equity in income of unconsolidated entities and income tax expense
50,962

 
43,710

Add:
 
 
 
Distribution of income from investments in unconsolidated entities
453

 
221

Fixed charges, less preferred distribution requirement of consolidated subsidiaries
41,700

 
38,604

Deduct:
 
 
 
Capitalized interest
795

 
2,020

Total earnings (A)
$
92,320

 
$
80,515

 
 
 
 
Fixed charges and preferred dividends:
 
 
 
Interest expense
$
40,905

 
$
36,584

Capitalized interest
795

 
2,020

Total fixed charges (B)
$
41,700

 
$
38,604

Preferred dividends, including redemption costs
922

 
922

Total fixed charges and preferred dividends (C)
$
42,622

 
$
39,526

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

 
2.1 x

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

 
2.0 x




MID AMERICA APARTMENT COMMUNITIES INC. Reports