HORTON D R INC /DE/ - FORM 10-K - EX-12.1 - November 20, 2009

Attached files

file filename
10-K - FORM 10-K - HORTON D R INC /DE/d70153e10vk.htm
EX-31.2 - EX-31.2 - HORTON D R INC /DE/d70153exv31w2.htm
EX-23.1 - EX-23.1 - HORTON D R INC /DE/d70153exv23w1.htm
EX-23.2 - EX-23.2 - HORTON D R INC /DE/d70153exv23w2.htm
EX-31.1 - EX-31.1 - HORTON D R INC /DE/d70153exv31w1.htm
EX-32.2 - EX-32.2 - HORTON D R INC /DE/d70153exv32w2.htm
EX-32.1 - EX-32.1 - HORTON D R INC /DE/d70153exv32w1.htm
EX-21.1 - EX-21.1 - HORTON D R INC /DE/d70153exv21w1.htm
Exhibit 12.1
D.R. HORTON, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                         
    For the Fiscal Year Ended September 30,
    2009   2008   2007   2006   2005
    ($ in millions)
Consolidated income (loss) before income taxes
   $ (552.3 )   $ (2,631.8 )   $ (951.2 )   $ 1,987.1     $ 2,378.6  
 
                                        
Minority interests in income before income taxes of subsidiaries which have incurred fixed charges
     —       —       2.6       2.6       —  
 
                                        
Minority interests in losses before income taxes of majority owned subsidiaries which have incurred losses
     (3.1 )     (0.6 )     —       —       (0.3 )
 
                                        
Amortization of capitalized interest
     136.6       375.8       254.5       237.1       225.0  
 
                                        
Interest expensed
     105.8       56.6       52.6       72.1       33.9  
     
 
                                        
Earnings (loss)
   $ (313.0 )   $ (2,200.0 )   $ (641.5 )   $ 2,298.9     $ 2,637.2  
     
 
                                        
Interest incurred
   $ 206.9     $ 254.3     $ 356.9     $ 397.5     $ 306.8  
     
 
                                        
Fixed charges
   $ 206.9     $ 254.3     $ 356.9     $ 397.5     $ 306.8  
     
 
                                        
Ratio of earnings to fixed charges
     —       —       —       5.78       8.60  
     
 
                                        
Coverage deficiency
   $ 519.9     $ 2,454.3     $ 998.4                  
     
Interest expensed and interest incurred include losses on early retirement of debt of $12.1 million, $17.9 million, and $4.5 million in fiscal 2007, 2006, and 2005, respectively.

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