EX-12.1 15 g21068exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
BEAZER HOMES USA, INC.
FIXED CHARGE COVERAGE RATIO CALCULATION
                                         
    Year ended September 30,  
    2009     2008     2007     2006     2005  
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
    ($186,546 )     ($729,115 )     ($574,593 )   $ 609,835     $ 572,340  
FIXED CHARGES
    137,631       145,604       154,743       130,636       95,242  
LESS: INTEREST CAPITALIZED
    (50,451 )     (84,474 )     (148,444 )     (124,162 )     (89,696 )
ADD: INTEREST AMORTIZED TO COS
    54,714       112,262       127,530       95,974       80,180  
ADD: INTEREST IMPAIRED TO COS
    3,376       13,795       12,350              
 
                             
EARNINGS AVAILABLE FOR FIXED CHARGES
    (41,276 )     (541,928 )     (428,414 )     712,283       658,066  
 
                                       
FIXED CHARGES
  $ 137,631     $ 145,604     $ 154,743     $ 130,636     $ 95,242  
 
 
                             
RATIO OF EARNINGS TO FIXED CHARGES(a)
    (a )     (a )     (a )     5.45 x     6.91 x
 
                             
 
(a)   The ratio of earnings to fixed charges for each of the periods is determined by dividing earnings by fixed charges. Earnings consist of (loss) income from continuing operations before income taxes, amortization of previously capitalized interest and fixed charges, exclusive of capitalized interest cost. Fixed charges consist of interest incurred, amortization of deferred loan costs and debt discount, and that portion of operating lease rental expense (33%) deemed to be representative of interest. Earnings for fiscal years ended September 30, 2009, 2008 and 2007 were insufficient to cover fixed charges by $41 million, $542 million and $428 million, respectively.