EX-12.1 13 d510467dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Beazer Homes USA, Inc.

Calculation of Ratio of Earnings to Total Fixed Charges

 

                                   Three Months Ended
December 31,
 
     2008     2009     2010     2011     2012     2011     2012  
($ in thousands)                                  unaudited  

Earnings

            

Earnings (loss) before income taxes from continuing operations

     (710,188     (181,781     (147,925     (196,818     (175,970     (35,049     (19,192

Plus: Fixed charges

     145,345        137,533        130,760        134,490        126,892        33,037        28,871   

Less: Capitalized interest

     (84,474     (50,451     (53,102     (57,378     (53,444     (13,408     (12,207

Add: Interest amortized to COS

     112,262        54,714        52,243        46,382        60,952        12,843        8,475   

Add: Interest impaired to COS

     13,795        3,376        2,313        1,907        275        28        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings available for fixed charges

     (523,260     (36,609     (15,711     (71,417     (41,295     (2,549     5,947   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges

     145,345        137,533        130,760        134,490        126,892        33,037        28,871   

Ratio of Earnings to Fixed Charges

     (a)        (a)        (a)        (a)        (a)        (a)        0.2x   

 

(a) Earnings for the fiscal years ended September 30, 2008, 2009, 2010, 2011 and 2012 and the three months ended December 31, 2011 were insufficient to cover fixed charges by $523 million, $37 million, $16 million, $71 million, $41 million and $3 million, respectively. Earnings for the three months ended December 31, 2012 were sufficient to cover fixed charges by $6 million, resulting in a ratio of earnings to fixed charges of 0.2x.