Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - American Homes 4 Rent | amh06301810qexhibit322.htm |
| EX-32.1 - EXHIBIT 32.1 - American Homes 4 Rent | amh06301810qexhibit321.htm |
| EX-31.4 - EXHIBIT 31.4 - American Homes 4 Rent | amh06301810qexhibit314.htm |
| EX-31.3 - EXHIBIT 31.3 - American Homes 4 Rent | amh06301810qexhibit313.htm |
| EX-31.2 - EXHIBIT 31.2 - American Homes 4 Rent | amh06301810qexhibit312.htm |
| EX-31.1 - EXHIBIT 31.1 - American Homes 4 Rent | amh06301810qexhibit311.htm |
| EX-12.1 - EXHIBIT 12.1 - American Homes 4 Rent | amh06301810qexhibit121.htm |
| 10-Q - 10-Q - American Homes 4 Rent | amh06301810q.htm |
Exhibit 12.2
AMERICAN HOMES 4 RENT, L.P.
RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS
Six Months Ended | Year Ended December 31, | ||||||||||||||||||||||
(Amounts in thousands) | June 30, 2018 | 2017 | 2016 | 2015 | 2014 | 2013 (1) | |||||||||||||||||
Earnings: | |||||||||||||||||||||||
Income (loss) from continuing operations | $ | 47,423 | $ | 76,492 | $ | 10,446 | $ | (47,948 | ) | $ | (33,092 | ) | $ | (20,074 | ) | ||||||||
Less: equity in earnings of joint ventures | (587 | ) | (1,642 | ) | (860 | ) | — | — | — | ||||||||||||||
Add: fixed charges | 65,483 | 119,006 | 133,783 | 98,103 | 33,077 | 10,016 | |||||||||||||||||
Less: capitalized interest | (3,799 | ) | (5,656 | ) | (2,290 | ) | (8,690 | ) | (13,196 | ) | (9,646 | ) | |||||||||||
Less: gain on remeasurement of equity method investment | — | — | — | — | — | (10,945 | ) | ||||||||||||||||
Less: gain on conversion of Series E units | — | — | (11,463 | ) | — | — | — | ||||||||||||||||
Less: remeasurement of Series E units | — | — | — | (2,100 | ) | 5,119 | 2,057 | ||||||||||||||||
Less: remeasurement of participating preferred shares | (1,212 | ) | (2,841 | ) | 7,020 | 4,830 | 6,158 | 1,810 | |||||||||||||||
Total earnings | $ | 107,308 | $ | 185,359 | $ | 136,636 | $ | 44,195 | $ | (1,934 | ) | $ | (26,782 | ) | |||||||||
Combined fixed charges and preferred distributions: | |||||||||||||||||||||||
Interest expense (including amortization of loan costs) | $ | 61,279 | $ | 112,620 | $ | 130,847 | $ | 89,413 | $ | 19,881 | $ | 370 | |||||||||||
Capitalized interest | 3,799 | 5,656 | 2,290 | 8,690 | 13,196 | 9,646 | |||||||||||||||||
Portion of rental expense which represents interest factor | 405 | 730 | 646 | — | — | — | |||||||||||||||||
Fixed charges | $ | 65,483 | $ | 119,006 | $ | 133,783 | $ | 98,103 | $ | 33,077 | $ | 10,016 | |||||||||||
Preferred distributions | 26,581 | 60,718 | 43,264 | 41,067 | 37,528 | 16,223 | |||||||||||||||||
Combined fixed charges and preferred distributions | $ | 92,064 | $ | 179,724 | $ | 177,047 | $ | 139,170 | $ | 70,605 | $ | 26,239 | |||||||||||
Ratio of earnings to fixed charges | 1.64 | 1.56 | 1.02 | 0.45 | N/A | N/A | |||||||||||||||||
Ratio of earnings to combined fixed charges and preferred distributions | 1.17 | 1.03 | 0.77 | 0.32 | N/A | N/A | |||||||||||||||||
Surplus (deficiency) of earnings to fixed charges | $ | 41,825 | $ | 66,353 | $ | 2,853 | $ | (53,908 | ) | $ | (35,011 | ) | $ | (36,798 | ) | ||||||||
Surplus (deficiency) of earnings to combined fixed charges and preferred distributions | $ | 15,244 | $ | 5,635 | $ | (40,411 | ) | $ | (94,975 | ) | $ | (72,539 | ) | $ | (53,021 | ) | |||||||
(1) | Excludes discontinued operations. |