Attached files
| file | filename |
|---|---|
| EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302(A) - HORTON D R INC /DE/ | a12312017exhibit311.htm |
| EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C. - HORTON D R INC /DE/ | a12312017exhibit322.htm |
| EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. - HORTON D R INC /DE/ | a12312017exhibit321.htm |
| EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302(A) - HORTON D R INC /DE/ | a12312017exhibit312.htm |
| 10-Q - 10-Q - HORTON D R INC /DE/ | a1231201710q.htm |
Exhibit 12.1
D.R. HORTON, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended December 31, 2017 | For the Fiscal Year Ended September 30, | |||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||||
($ in millions) | ||||||||||||||||||||||||
Consolidated income before income taxes | $ | 391.2 | $ | 1,602.1 | $ | 1,353.5 | $ | 1,123.4 | $ | 814.2 | $ | 657.8 | ||||||||||||
Distributions in excess of earnings of equity method investees | 13.0 | — | — | — | — | — | ||||||||||||||||||
Amortization of capitalized interest | 28.6 | 152.6 | 169.1 | 159.7 | 124.4 | 110.9 | ||||||||||||||||||
Interest expensed | 1.5 | 6.6 | 6.2 | 5.6 | 4.8 | 11.7 | ||||||||||||||||||
Earnings | $ | 434.3 | $ | 1,761.3 | $ | 1,528.8 | $ | 1,288.7 | $ | 943.4 | $ | 780.4 | ||||||||||||
Interest incurred | $ | 32.6 | $ | 135.9 | $ | 158.5 | $ | 174.8 | $ | 190.6 | $ | 177.3 | ||||||||||||
Fixed charges | $ | 32.6 | $ | 135.9 | $ | 158.5 | $ | 174.8 | $ | 190.6 | $ | 177.3 | ||||||||||||
Ratio of earnings to fixed charges | 13.32 | 12.96 | 9.65 | 7.37 | 4.95 | 4.40 | ||||||||||||||||||