Attached files
file | filename |
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10-K - FORM 10-K - OCWEN FINANCIAL CORP | ocn_k09.htm |
EX-21.0 - EXHIBIT 21.0 - OCWEN FINANCIAL CORP | ex21_0.htm |
EX-23.1 - EXHIBIT 23.1 - OCWEN FINANCIAL CORP | ex23_1.htm |
EX-31.2 - EXHIBIT 31.2 - OCWEN FINANCIAL CORP | ex31_2.htm |
EX-32.2 - EXHIBIT 32.2 - OCWEN FINANCIAL CORP | ex32_2.htm |
EX-23.2 - EXHIBIT 23.2 - OCWEN FINANCIAL CORP | ex23_2.htm |
EX-32.1 - EXHIBIT 32.1 - OCWEN FINANCIAL CORP | ex32_1.htm |
EX-31.1 - EXHIBIT 31.1 - OCWEN FINANCIAL CORP | ex31_1.htm |
Exhibit 12.1
OCWEN FINANCIAL CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
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2009 |
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2008 |
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2007 |
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2006 |
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2005 |
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(Adjusted) |
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Earnings: |
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Income (loss) from continuing operations before income taxes (1) |
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$ |
96,194 |
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$ |
44,093 |
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$ |
49,891 |
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$ |
77,951 |
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$ |
12,309 |
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Add: |
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Interest expensed and capitalized, except interest on deposits, and amortization of capitalized debt expenses |
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62,541 |
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86,141 |
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75,890 |
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56,318 |
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39,103 |
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Interest on deposits |
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572 |
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654 |
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917 |
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948 |
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3,710 |
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Interest component of rental expense |
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2,089 |
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2,650 |
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2,217 |
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1,513 |
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1,308 |
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Total fixed charges (2) |
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65,202 |
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89,445 |
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79,024 |
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58,779 |
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44,121 |
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Earnings (losses) for computation purposes |
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$ |
161,396 |
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$ |
133,538 |
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$ |
128,915 |
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$ |
136,730 |
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$ |
56,430 |
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Ratio of earnings to fixed charges: |
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Including interest on deposits (3) |
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2.48 |
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1.49 |
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1.63 |
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2.33 |
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1.28 |
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Excluding interest on deposits (3) |
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2.49 |
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1.50 |
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1.64 |
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2.35 |
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1.30 |
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(1) |
Excludes income or loss from equity investees but includes any distributions received representing a return on capital |
(2) |
Fixed charges represent total interest expensed and capitalized, including and excluding interest on deposits, amortization of capitalized debt expenses, as well as the interest component of rental expense. |
(3) |
The ratios of earnings to fixed charges were computed by dividing (x) income from continuing operations before income taxes plus fixed charges by (y) fixed charges. |