Attached files
| file | filename |
|---|---|
| 8-K - 8-K - PULTEGROUP INC/MI/ | d231262d8k.htm |
EXHIBIT 12.1
PULTEGROUP, INC.
RATIO OF EARNINGS TO FIXED CHARGES
($000’s omitted)
(Unaudited)
| For the Six Months Ended June 30, | ||||||||
| 2016 | 2015 | |||||||
| Earnings: |
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| Income from continuing operations before income taxes |
$ | 307,793 | $ | 263,431 | ||||
| Fixed charges |
79,845 | 67,483 | ||||||
| Amortization of capitalized interest |
55,525 | 65,353 | ||||||
| Capitalized interest |
(73,515 | ) | (62,099 | ) | ||||
| Distributions in excess (less than) earnings of affiliates |
(1,385 | ) | (772 | ) | ||||
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| Income as adjusted |
$ | 368,263 | $ | 333,396 | ||||
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| Fixed charges: |
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| Interest expensed and capitalized |
$ | 74,508 | $ | 62,711 | ||||
| Portion of rents representative of interest factor |
5,337 | 4,772 | ||||||
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| Fixed charges |
$ | 79,845 | $ | 67,483 | ||||
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| Ratio of earnings to fixed charges |
4.6 | 4.9 | ||||||
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Note: The ratios of earnings to fixed charges set forth above are computed on a consolidated basis. Fixed charges are comprised of interest incurred, which includes imputed interest associated with the guaranteed debt of our 50% or less owned affiliates, as well as a portion of rent expense, which represents the estimated interest factor and amortization of debt expense.