Attached files
| file | filename |
|---|---|
| EX-4.2 - FORM OF GLOBAL NOTE - NVR INC | d408355dex42.htm |
| EX-4.1 - FIFTH SUPPLEMENTAL INDENTURE DATED SEPTEMBER 10, 2012 - NVR INC | d408355dex41.htm |
| EX-5.1 - OPINION OF HOGAN LOVELLS US LLP - NVR INC | d408355dex51.htm |
| EX-1.1 - UNDERWRITING AGREEMENT DATED SEPTEMBER 5, 2012 - NVR INC | d408355dex11.htm |
| 8-K - FORM 8-K - NVR INC | d408355d8k.htm |
Exhibit 12.1
NVR, Inc.
Ratios of Earnings to Fixed
Charges
(in thousands, except ratio
amounts)
| Six Months Ended |
Year Ended December 31, | |||||||||||||||||||||||
| June 30, 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
| Earnings |
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| NVR, Inc. consolidated |
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| Pre-tax income from continuing operations |
$ | 94,913 | $ | 207,576 | $ | 322,393 | $ | 298,414 | $ | 167,455 | $ | 539,505 | ||||||||||||
| Fixed charges |
8,627 | 18,696 | 22,615 | 29,730 | 38,678 | 42,151 | ||||||||||||||||||
| Non-controlling interest (income) expense |
(244 | ) | (429 | ) | (400 | ) | 40 | 4 | (25 | ) | ||||||||||||||
| Distributed income from equity investees |
805 | 2,347 | 1,307 | — | — | — | ||||||||||||||||||
| Less: Equity income from subsidiaries |
(1,813 | ) | (4,423 | ) | (1,217 | ) | (629 | ) | (745 | ) | (1,060 | ) | ||||||||||||
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| Total Earnings |
$ | 102,288 | $ | 223,767 | $ | 344,698 | $ | 327,555 | $ | 205,392 | $ | 580,571 | ||||||||||||
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| Fixed Charges: |
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| Interest expense |
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| NVR, Inc. consolidated |
$ | 523 | $ | 1,892 | $ | 5,409 | $ | 9,863 | $ | 12,488 | $ | 12,687 | ||||||||||||
| Amortization of debt issuance costs |
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| NVR, Inc. consolidated |
— | — | 620 | 1,517 | 1,168 | 1,144 | ||||||||||||||||||
| Interest component of rental expense |
8,104 | 16,804 | 16,586 | 18,350 | 25,022 | 28,320 | ||||||||||||||||||
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| Total Fixed Charges: |
$ | 8,627 | $ | 18,696 | $ | 22,615 | $ | 29,730 | $ | 38,678 | $ | 42,151 | ||||||||||||
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| Ratio of earnings to fixed charges |
11.9 | 12.0 | 15.2 | 11.0 | 5.3 | 13.8 | ||||||||||||||||||
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