Six Months Ended Year Ended December 31 ---------------- ------------------------------------------------------------------------- June 30, 1996 1995 1994 1993 1992 1991 --------------- ------------ ------------ ------------ ------------ -------------...
COLONIAL REALTY LIMITED PARTNERSHIP
CONSOLIDATED AND COMBINED INCLUDING
PREDECESSOR BUSINESS
EARNINGS TO FIXED CHARGES RATIO
Six Months Ended Year Ended December 31
---------------- -------------------------------------------------------------------------
June 30, 1996 1995 1994 1993 1992 1991
--------------- ------------ ------------ ------------ ------------ -------------
Income before gains from
sales of property and
extraordinary items $18,958,016 $25,066,843 $16,527,968 $ 3,509,020 $ (780,119) $(3,365,952)
----------- ----------- ----------- ----------- ----------- -----------
Fixed charges:
Interest expense 10,230,852 23,972,107 10,819,643 12,771,645 14,508,800 14,654,142
Interest expense capitalized 1,418,100 868,093 333,197 -0- 131,890 799,553
Amortization of debts issuance
costs and interest rate caps 990,478 2,325,070 2,292,000 736,504 249,246 292,082
----------- ----------- ----------- ----------- ----------- -----------
Total Fixed Charges 12,639,430 27,165,270 13,444,840 13,508,149 14,889,936 15,745,777
----------- ----------- ----------- ----------- ----------- -----------
Earnings $31,597,446 $52,232,113 $29,972,808 $17,727,650 $14,109,817 $12,379,825
=========== =========== =========== =========== =========== ===========
Ratio of Earnings to
Fixed Charges 2.50 1.92 2.23 1.31 .95 .79
=========== =========== =========== =========== =========== ===========
Earnings deficiency to
cover fixed charges N/A N/A N/A N/A $ 780,119 $ 3,365,952
=========== =========== =========== =========== =========== ===========
