EX-12.1 10 k69047ex12-1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 PULTE HOMES, INC. COMPUTATION OF EARNINGS TO FIXED CHARGES
Year Ended December 31, ------------------------------------------------- 2001 2000 1999 1998 1997 ------------------------------------------------- Earnings: Income from continuing operations before taxes $491,787 $355,096 $286,405 $165,814 $ 80,975 Add: Fixed Charges 137,982 78,599 66,851 59,544 53,095 Amortization of Capitalized Interest 36,006 28,019 25,187 20,164 18,503 Subtract: Capitalized Interest (80,399) (33,129) (27,923) (21,801) (20,376) Earnings of 50% or less owned affiliates (11,265) (13,169) (10,898) (4,163) (1,515) -------- -------- -------- -------- -------- Income as adjusted $574,111 $415,416 $339,622 $219,558 $130,682 -------- -------- -------- -------- -------- Fixed Charges: Interest expensed and capitalized 125,949 70,227 59,551 52,754 45,601 Portion of rents representative of interest factor 12,033 8,372 7,300 6,790 7,494 -------- -------- -------- -------- -------- Fixed charges $137,982 $ 78,599 $ 66,851 $ 59,544 $ 53,095 -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- Ratio of earnings to fixed charges 4.16 5.29 5.08 3.69 2.46 ======== ======== ======== ======== ========