EX-12.1 2 g18293exv12w1.htm EX-12.1 EX-12.1
Exhibit 12.1
         
    BFC Financial Corporation
    Calculation of Ratio of Earnings to Fixed Charges
    (Dollars in thousands)
                                         
    Years ended December 31,  
    2008     2007     2006     2005     2004  
Fixed charges:
                                        
Interest
   $ 151,169       196,479       166,578       146,062       88,901  
Eliminate BankAtlantic Bancorp and and Woodbridge
     (151,169 )     (196,479 )     (166,578 )     (145,716 )     (87,730 )
Pre tax 5% Preferred stock dividends
     1,221       1,221       1,221       1,221       638  
 
                              
 
   $ 1,221       1,221       1,221       1,567       1,809  
 
                              
 
                                        
Earnings (loss):
                                        
(Loss) income from continuing operations before income tax
   $ (329,453 )     (321,077 )     12,179       146,553       173,317  
Eliminate BankAtlantic Bancorp and Woodbridge
     320,563       314,373       (19,042 )     (153,022 )     (174,881 )
Eliminate other partnerships
     (42 )     77       67       14       (4,114 )
BankAtlantic Bancorp/BankAtlantic and Woodbridge dividends
     208       1,759       2,350       2,191       1,925  
Fixed charges
     1,221       1,221       1,221       1,567       1,809  
5% Preferred stock dividends
     (750 )     (750 )     (750 )     (750 )     (392 )
 
                              
 
   $ (8,253 )     (4,397 )     (3,975 )     (3,447 )     (2,336 )
 
                              
Ratio
     —       —       —       —       —  
 
                              
 
                                        
Coverage deficiency
   $ 9,474       5,618       5,196       5,014       4,145