Attached files
| file | filename |
|---|---|
| EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER SECTION 906 - KB HOME | kbh-11302017x10kexhibit321.htm |
| EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER SECTION 302 - KB HOME | kbh-11302017x10kexhibit312.htm |
| EX-10.51 - AMENDED KB HOME 2014 EQUITY INCENTIVE PLAN RESTRICTED STOCK AGREEMENT - KB HOME | kbh-11302017x10xkexhibit10.htm |
| EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - KB HOME | kbh-11302017x10kexhibit23.htm |
| 10-K - 10-K - KB HOME | kbh-11302017x10k.htm |
| EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER SECTION 906 - KB HOME | kbh-11302017x10kexhibit322.htm |
| EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER SECTION 302 - KB HOME | kbh-11302017x10kexhibit311.htm |
| EX-21 - SUBSIDIARIES OF REGISTRANT - KB HOME | kbh-11302017x10kexhibit21.htm |
EXHIBIT 12.1
KB HOME | |||||||||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||
(In Thousands, Except Ratios) | |||||||||||||||||||
Years Ended November 30, | |||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
Earnings | |||||||||||||||||||
Income from operations before income taxes | $ | 289,995 | $ | 149,315 | $ | 127,043 | $ | 94,949 | $ | 38,363 | |||||||||
Add: | |||||||||||||||||||
Interest incurred | 177,171 | 185,466 | 186,885 | 171,541 | 149,101 | ||||||||||||||
Amortization of premiums and discounts related to debt | 6,573 | 7,576 | 7,738 | 7,124 | 5,347 | ||||||||||||||
Portion of rent expense considered to be interest | 4,939 | 5,097 | 4,524 | 3,917 | 3,204 | ||||||||||||||
Amortization of previously capitalized interest | 215,396 | 161,285 | 143,255 | 90,804 | 87,414 | ||||||||||||||
Distribution of earnings from unconsolidated joint ventures, net of equity in income (loss) | 8,210 | 9,908 | 11,512 | (1,063 | ) | 2,882 | |||||||||||||
Deduct: | |||||||||||||||||||
Interest capitalized | (170,864 | ) | (179,566 | ) | (165,029 | ) | (140,791 | ) | (86,411 | ) | |||||||||
Income as adjusted | $ | 531,420 | $ | 339,081 | $ | 315,928 | $ | 226,481 | $ | 199,900 | |||||||||
Fixed charges | |||||||||||||||||||
Interest incurred | $ | 177,171 | $ | 185,466 | $ | 186,885 | $ | 171,541 | $ | 149,101 | |||||||||
Amortization of premiums and discounts related to debt | 6,573 | 7,576 | 7,738 | 7,124 | 5,347 | ||||||||||||||
Portion of rent expense considered to be interest | 4,939 | 5,097 | 4,524 | 3,917 | 3,204 | ||||||||||||||
Total fixed charges | $ | 188,683 | $ | 198,139 | $ | 199,147 | $ | 182,582 | $ | 157,652 | |||||||||
Ratio of earnings to fixed charges | 2.82 | x | 1.71 | x | 1.59 | x | 1.24 | x | 1.27 | x | |||||||||
The ratios of earnings to fixed charges are computed on a consolidated basis.