WILLIAM LYON HOMES - FORM 10-K - EX-12.1 - STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES. - May 13, 2011

Attached files

file filename
10-K - WILLIAM LYON HOMES FORM 10-K - WILLIAM LYON HOMESd10k.htm
EX-32.2 - CERTIFICATION OF CFO - SECTION 906 - WILLIAM LYON HOMESdex322.htm
EX-21.1 - LIST OF SUBSIDIARIES OF WILLIAM LYON HOMES - WILLIAM LYON HOMESdex211.htm
EX-32.1 - CERTIFICATION OF CEO - SECTION 906 - WILLIAM LYON HOMESdex321.htm
EX-31.1 - CERTIFICATION OF CEO - SECTION 302 - WILLIAM LYON HOMESdex311.htm
EX-31.2 - CERTIFICATION OF CFO - SECTION 302 - WILLIAM LYON HOMESdex312.htm

Exhibit 12.1

STATEMENT OF COMPUTATION OF RATIO OF (LOSS) EARNINGS TO FIXED CHARGES

 

    Year Ended December 31,  
    2010     2009     2008     2007     2006  
    (dollars in thousands)  

(Loss) Income before provision for income taxes

   $ (135,867 )    $ (122,861 )    $ (163,676 )    $ (305,624 )    $ 123,709   

Interest incurred

     62,790        48,782        66,748        76,497        80,173   

Less interest capitalized

     (39,137 )      (12,880 )      (42,308 )      (76,497 )      (80,173 ) 

Amortization of capitalized interest included in cost of sales

     16,762        17,978        37,907        57,241        54,356   

Non-cash impairment charge

     111,860        45,269        141,207        231,120        39,895   

Gain on retirement of debt

     (5,572 )      (78,144 )      (54,044 )      —          —     

Cash distributions of income from unconsolidated joint ventures

     —          —          816        —          2,599   

Less equity in (income) loss of unconsolidated joint ventures

     (916 )      420        3,877        (304 )      (3,242 ) 
                                       

Earnings (Loss)

   $ 9,920      $ (101,436 )    $ (9,473 )    $ (17,567 )    $ 217,317   
                                       

Interest incurred

          

Interest incurred

   $ 62,790      $ 48,782      $ 66,748      $ 76,497      $ 80,173   
                                       

Fixed Charges

   $ 62,790      $ 48,782      $ 66,748      $ 76,497      $ 80,173   
                                       

Ratio of Earnings (Loss) to Fixed Charges

     0.16x        (2.08x )      (0.14x )      (0.23x )      2.71x   
                                       

WILLIAM LYON HOMES Reports