EX-12.1 2 rylex1212015q2.htm EXHIBIT 12.1 RYL EX 12.1 2015 Q2


Exhibit 12.1: Computation of Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
TWELVE MONTHS ENDED DECEMBER 31,
 
 
SIX MONTHS
ENDED
JUNE 30,

(in thousands, except ratio)
2010
2011
2012
2013
2014
 
2015
(Loss) income from continuing operations before taxes
$
(80,497
)
$
(32,732
)
$
43,967

$
195,691

$
284,464

 
$
107,885

Share of distributed loss (income) of
     50%-or-less-owned affiliates,
     net of equity pickup
3,705

976

(1,218
)
(1,202
)
(1,414
)
 
(497
)
Amortization of capitalized interest
40,791

32,068

40,612

52,362

50,597

 
22,036

Interest
55,615

56,635

59,503

68,184

69,802

 
32,578

Less: interest capitalized during the period
(31,221
)
(38,032
)
(42,327
)
(59,208
)
(68,788
)
 
(31,840
)
Interest portion of rental expense
3,733

2,360

1,976

2,182

2,442

 
1,263

(LOSS) EARNINGS
$
(7,874
)
$
21,275

$
102,513

$
258,009

$
337,103

 
$
131,425

 
 
 
 
 
 
 
 
Interest
$
55,615

$
56,635

$
59,503

$
68,184

$
69,802

 
$
32,578

Interest portion of rental expense
3,733

2,360

1,976

2,182

2,442

 
1,263

FIXED CHARGES
$
59,348

$
58,995

$
61,479

$
70,366

$
72,244

 
$
33,841

 
 
 
 
 
 
 
 
(DEFICIENCY) SURPLUS
$
(67,222
)
$
(37,720
)
$
41,034

$
187,643

$
264,859

 
$
97,584

 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
—

—

1.67

3.67

4.67

 
3.88