EX-12.(A) 5 k79704exv12wxay.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12(a) PULTE HOMES, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, Six Months Ended June 30, ------------------------------------------------------ ------------------------ 1998 1999 2000 2001 2002 2002 2003 --------- --------- --------- --------- --------- --------- --------- Earnings: Income from continuing operations before taxes $ 165,814 $ 286,405 $ 355,096 $ 491,787 $ 728,822 $ 260,756 $ 335,992 Add: Fixed Charges 59,544 66,851 78,599 137,982 185,372 89,007 98,764 Amortization of Capitalized Interest 20,164 25,187 28,019 36,006 48,697 19,890 28,512 Subtract: Capitalized Interest (21,801) (27,923) (33,129) (80,399) (123,086) (58,742) (66,495) Earnings of 50% or less owned affiliates (2,025) (8,967) (9,628) (13,546) (12,418) (6,929) (13,135) --------- --------- --------- --------- --------- --------- --------- Income as adjusted $ 221,696 $ 341,553 $ 418,957 $ 571,830 $ 827,387 $ 303,982 $ 383,638 --------- --------- --------- --------- --------- --------- --------- Fixed Charges: Interest expensed and capitalized 52,754 59,551 70,227 125,949 169,255 81,124 90,634 Portion of rents representative of interest factor 6,790 7,300 8,372 12,033 16,117 7,883 8,130 --------- --------- --------- --------- --------- --------- --------- Fixed charges $ 59,544 $ 66,851 $ 78,599 $ 137,982 $ 185,372 $ 89,007 $ 98,764 --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- Ratio of earnings to fixed charges 3.72 5.11 5.33 4.14 4.46 3.42 3.88 ========= ========= ========= ========= ========= ========= =========