EX-12.1 6 dex121.txt STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES Exhibit 12.1 Ratio of Earnings to Fixed Charges
Quarter Ended March 31, 2003 2002 2001 2000 1999 1998 -------------- ---- ---- ---- ---- ---- Earnings NVR, Inc. consolidated Pre-tax income from continuing operations 143,943 536,023 394,658 266,854 185,212 110,367 Minority interest (11) 258 835 593 351 344 Equity income from subsidiaries 147 658 916 593 656 490 ------------------------------------------------------------ Total Earnings 143,785 535,623 394,577 266,854 184,907 110,221 ------------------------------------------------------------ Fixed Charges: Interest expense NVR, Inc. consolidated 3,178 12,745 12,579 15,764 20,953 24,660 Amortization of debt issuance costs NVR, Inc. consolidated 589 2,119 1,325 382 387 419 Interest component of rental expense NVR, Inc. (estimated 90% of total rental expense is interest) 4,916 17,730 14,850 10,800 9,720 7,008 Total Fixed Charges: ------------------------------------------------------------ NVR, Inc. consolidated 8,683 32,594 28,754 26,946 31,060 32,087 ============================================================ RATIO: (earnings plus total fixed charges divided by fixed charges) NVR, Inc. consolidated 17.6 17.4 14.7 10.9 7.0 4.4 ============================================================