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EXHIBIT 12.1
POST APARTMENT HOMES, L.P.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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Year Ended December 31,
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2000 1999 1999 1998 1997 1996 1995
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<S> <C> <C> <C> <C> <C> <C> <C>
Pre-tax income (loss) from
continuing operations $ 32,653 $ 27,839 $ 119,424 $ 100,461 $ 66,078 $ 53,453 $ 38,417
Fixed Charges:
Interest incurred and amortization
of debt discount and premium on
all indebtedness 16,653 12,157 56,105 48,189 35,205 27,916 29,714
Rentals - 33.34% 681 596 2,385 2,220 1,686 939 405
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Total fixed charges 17,334 12,753 58,490 50,409 36,891 28,855 30,119
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Earnings before income taxes,
minority interest and fixed charges 49,987 40,592 177,914 150,870 102,969 82,308 68,536
Adjustment for capitalized interest (5,567) (4,599) (21,417) (15,707) (9,567) (4,443) (5,653)
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Total earnings $ 44,420 $ 35,993 $ 156,497 $ 135,163 $ 93,402 $ 77,865 $ 62,883
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RATIO OF EARNINGS TO FIXED CHARGES 2.6 2.8 2.7 2.7 2.5 2.7 2.1
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