Attached files
file | filename |
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EX-32.4 - EXHIBIT 32.4 - MID AMERICA APARTMENT COMMUNITIES INC. | exhibit324-maalpq32018.htm |
EX-32.3 - EXHIBIT 32.3 - MID AMERICA APARTMENT COMMUNITIES INC. | exhibit323-maalpq32018.htm |
EX-32.2 - EXHIBIT 32.2 - MID AMERICA APARTMENT COMMUNITIES INC. | exhibit322-maaq32018.htm |
EX-32.1 - EXHIBIT 32.1 - MID AMERICA APARTMENT COMMUNITIES INC. | exhibit321-maaq32018.htm |
EX-31.4 - EXHIBIT 31.4 - MID AMERICA APARTMENT COMMUNITIES INC. | exhibit314-maalpq32018.htm |
EX-31.3 - EXHIBIT 31.3 - MID AMERICA APARTMENT COMMUNITIES INC. | exhibit313-maalpq32018.htm |
EX-31.2 - EXHIBIT 31.2 - MID AMERICA APARTMENT COMMUNITIES INC. | exhibit312-maaq32018.htm |
EX-31.1 - EXHIBIT 31.1 - MID AMERICA APARTMENT COMMUNITIES INC. | exhibit311-maaq32018.htm |
EX-12.2 - EXHIBIT 12.2 - MID AMERICA APARTMENT COMMUNITIES INC. | exhibit122-maalpq32018.htm |
10-Q - 10-Q - MID AMERICA APARTMENT COMMUNITIES INC. | maa930201810-q.htm |
EXHIBIT 12.1
Mid-America Apartment Communities, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||
Earnings: | |||||||||||||||
Net income | $ | 54,704 | $ | 118,958 | $ | 167,505 | $ | 212,529 | |||||||
Equity in income of unconsolidated entities | (402 | ) | (335 | ) | (1,256 | ) | (1,021 | ) | |||||||
Income tax expense | 616 | 641 | 1,826 | 1,910 | |||||||||||
Net income before equity in income of unconsolidated entities and income tax expense | 54,918 | 119,264 | 168,075 | 213,418 | |||||||||||
Add: | |||||||||||||||
Distribution of income from investments in unconsolidated entities | 554 | 79 | 1,593 | 418 | |||||||||||
Fixed charges, less preferred distribution requirement of consolidated subsidiaries | 45,007 | 41,597 | 130,780 | 120,889 | |||||||||||
Deduct: | |||||||||||||||
Capitalized interest | 357 | 1,657 | 1,640 | 5,884 | |||||||||||
Total earnings (A) | $ | 100,122 | $ | 159,283 | $ | 298,808 | $ | 328,841 | |||||||
Fixed charges and preferred dividends: | |||||||||||||||
Interest expense | $ | 44,650 | $ | 39,940 | $ | 129,140 | $ | 115,005 | |||||||
Capitalized interest | 357 | 1,657 | 1,640 | 5,884 | |||||||||||
Total fixed charges (B) | $ | 45,007 | $ | 41,597 | $ | 130,780 | $ | 120,889 | |||||||
Preferred dividends, including redemption costs | 922 | 922 | 2,766 | 2,766 | |||||||||||
Total fixed charges and preferred dividends (C) | $ | 45,929 | $ | 42,519 | $ | 133,546 | $ | 123,655 | |||||||
Ratio of Earnings to Fixed Charges (A/B) | 2.2 x | 3.8 x | 2.3 x | 2.7 x | |||||||||||
Ratio of Earnings to Fixed Charges and Preferred Dividends (A/C) | 2.2 x | 3.7 x | 2.2 x | 2.7 x |