Attached files
| file | filename |
|---|---|
| EX-5.2 - EX-5.2 - CalAtlantic Group, Inc. | d397838dex52.htm |
| EX-5.1 - EX-5.1 - CalAtlantic Group, Inc. | d397838dex51.htm |
| EX-4.1 - EX-4.1 - CalAtlantic Group, Inc. | d397838dex41.htm |
| EX-1.1 - EX-1.1 - CalAtlantic Group, Inc. | d397838dex11.htm |
| 8-K - FORM 8-K - CalAtlantic Group, Inc. | d397838d8k.htm |
Exhibit 12.1
CalAtlantic Group, Inc.
Ratio of Earnings to Fixed Charges - Continuing Operations
(Dollars in thousands)
| Three Months Ended March 31, |
Year Ended December 31, | |||||||||||||||||||||||||||
| 2017 | 2016 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||||
| Earnings: |
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| Net income (loss) from continuing operations |
$ | 82,620 | $ | 72,661 | $ | 484,730 | $ | 213,509 | $ | 215,865 | $ | 188,715 | $ | 531,421 | ||||||||||||||
| Add: |
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| Cash distributions of income from unconsolidated joint ventures |
3,081 | 450 | 671 | 2,830 | 1,875 | 3,375 | 3,910 | |||||||||||||||||||||
| Provision (benefit) for income taxes |
47,248 | 42,543 | 268,386 | 128,980 | 134,099 | 68,983 | (453,234 | ) | ||||||||||||||||||||
| Homebuilding interest amortized to cost of sales and interest expense |
39,428 | 30,382 | 171,701 | 139,381 | 123,112 | 121,778 | 110,298 | |||||||||||||||||||||
| Interest portion of rent expense |
225 | 225 | 900 | 600 | 500 | 500 | 500 | |||||||||||||||||||||
| Less: |
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| Income (loss) from unconsolidated joint ventures |
3,888 | 1,189 | 4,057 | 1,966 | (668 | ) | 949 | (2,090 | ) | |||||||||||||||||||
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| Earnings: |
$ | 168,714 | $ | 145,072 | $ | 922,331 | $ | 483,334 | $ | 476,119 | $ | 382,402 | $ | 194,985 | ||||||||||||||
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| Fixed charges: |
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| Homebuilding interest incurred |
$ | 51,705 | $ | 62,725 | $ | 233,225 | $ | 171,509 | $ | 153,695 | $ | 140,865 | $ | 141,827 | ||||||||||||||
| Interest portion of rent expense |
225 | 225 | 900 | 600 | 500 | 500 | 500 | |||||||||||||||||||||
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| Fixed Charges |
$ | 51,930 | $ | 62,950 | $ | 234,125 | $ | 172,109 | $ | 154,195 | $ | 141,365 | $ | 142,327 | ||||||||||||||
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| Ratio of Earnings to Fixed Charges |
3.2 | 2.3 | 3.9 | 2.8 | 3.1 | 2.7 | 1.4 | |||||||||||||||||||||
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| Amount of additional earnings needed to cover fixed charges: |
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||