EX-12.1 2 d535845dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Beazer Homes USA, Inc.

Calculation of Ratio of Earnings to Total Fixed Charges

 

                                   Six Months Ended
March 31,		  
     2008     2009     2010     2011     2012     2012     2013  
($ in thousands)                                  unaudited  

Earnings

             

Earnings (loss) before income taxes from continuing operations

      (710,188 )      (181,781 )      (147,925 )      (196,818 )      (175,970 )      (73,751 )      (38,646 ) 

Plus: Fixed charges

      145,345        137,533        130,760        134,490        126,892        65,683        58,323   

Less: Capitalized interest

      (84,474 )      (50,451 )      (53,102 )      (57,378 )      (53,444 )      (26,801 )      (25,138 ) 

Add: Interest amortized to COS

      112,262        54,714        52,243        46,382        60,952        25,479        17,827   

Add: Interest impaired to COS

      13,795        3,376        2,313        1,907        275        53        —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings available for fixed charges

      (523,260 )      (36,609 )      (15,711 )      (71,417 )      (41,295 )      (9,337 )      12,366   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges

      145,345        137,533        130,760        134,490        126,892        65,683        58,323   

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 Six months ended March 31, 2012 were insufficient to cover fixed charges by $523 million, $37 million, $16 million, $71 million, $41 million and $9 million, respectively. Earnings for the six months ended March 31, 2013 were sufficient to cover fixed charges by $12 million, resulting in a ratio of earnings to fixed charges of 0.2x.