EX-12.1 17 ex121.htm RATIO OF EARNINGS TO FIXED CHARGES ex12.1 (Q3 2012)


Exhibit 12.1
DOMUS HOLDINGS CORP. AND REALOGY CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)

The following table sets forth our ratio of earnings to fixed charges for the periods indicated:
    
 
As of and For the Nine Months Ended September 30,
 
2012
 
2011
Earnings available to cover fixed charges:
 
 
 
Loss before income taxes and noncontrolling interests
$
(217
)
 
$
(273
)
Less:
 
 
 
Undistributed earnings of equity method investments
(46
)
 
(15
)
Interest on taxes
2

 
2

Plus:
 
 
 
Distributed earnings of equity method investments
28

 
16

Fixed charges
579

 
546

Earnings available to cover fixed charges
434

 
302

 
 
 
 
Fixed charges (a)
 
 
 
Interest, including amortization of deferred financing costs
538

 
502

Interest portion of rental payments
41

 
44

Total fixed charges
$
579

 
$
546

Ratio of earnings to fixed charges (b)

 

_______________
 
 
(a)
Consists of interest expense on all indebtedness and the portion of operating lease rental expense that is representative of the interest factor. Included in interest expense above is interest incurred related to the Company's secured obligations. Interest related to these securitization obligations are recorded within net revenues on the consolidated and combined statements of operations as the related borrowings are utilized to fund advances within our relocation business where interest is earned on such advances. The interest related to these securitization obligations was $7 million and $4 million for the nine months ended September 30, 2012 and 2011, respectively.
(b)
Our earnings were insufficient to cover fixed charges by approximately $145 million and $244 million for the nine months ended September 30, 2012 and 2011, respectively.