EX-12.1 3 a72362ex12-1.txt EXHIBIT 12.1 1 EXHIBIT 12.1 THE RYLAND GROUP, INC. STATEMENTS RE COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND THE YEARS ENDED DECEMBER 31, 2000, 1999, 1998, 1997, AND 1996
Three Months Ended 1996 1997 1998 1999 2000 03/31/01 -------- -------- -------- -------- -------- ------------ Consolidated pretax income(loss) from continuing operations 26,397 36,470 75,158 109,336 134,840 26,594 Share of distributed income of 50%-or-less-owned affiliates net of equity pickup 539 1,334 2,602 (263) (163) (34) Amortization of capitalized interest 17,035 21,581 20,645 19,027 27,581 6,018 Interest 90,529 74,950 63,410 52,764 62,610 15,134 Less interest capitalized during the period (16,975) (17,636) (18,601) (24,397) (34,105) (8,879) Net amortization of debt discount and premium and issuance expense 243 84 36 33 -- -- Interest portion of rental expense 3,394 3,541 4,709 4,522 6,065 1,782 -------- -------- -------- -------- -------- -------- EARNINGS 121,162 120,324 147,959 161,022 196,828 40,615 Interest 90,529 74,950 63,410 52,764 62,610 15,134 Net amortization of debt discount and premium and issuance expense 243 84 36 33 -- -- Interest portion of rental expense 3,394 3,541 4,709 4,522 6,065 1,782 Interest expense relating to guaranteed debt of 50%-or-less-owned affiliate -- -- -- -- -- -- -------- -------- -------- -------- -------- -------- Fixed Charges 94,166 78,575 68,155 57,319 68,675 16,916 Ratio of Earnings to Fixed Charges 1.29 1.53 2.17 2.81 2.87 2.40
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