EX-12 2 tol-20121031x10kxex12.htm EXHIBIT TOL-2012.10.31-10K-Ex.12


Exhibit 12
 
 
October 31,
 
 
2008
 
 
2009
 
 
2010
 
 
2011
 
 
2012
Earnings (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
 
$
(466,787
)
 
 
$
(496,465
)

 
$
(117,187
)

 
$
(29,366
)

 
$
112,942

Interest expense
 
89,300

 
 
96,727

 
 
106,997

 
 
80,282

 
 
90,521

Rent expense
 
6,382

 
 
5,812

 
 
5,528

 
 
4,135

 
 
3,728

Amortization
 
1,380

 
 
1,239

 
 
1,374

 
 
1,347

 
 
1,782

 
 
$
(369,725
)
 
 
$
(392,687
)

 
$
(3,288
)

 
$
56,398


 
$
208,973

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Homebuilding
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest incurred
 
$
116,340

 
 
$
118,026

 
 
$
114,975

 
 
$
114,761

 
 
$
125,783

Rent expense
 
6,382

 
 
5,812

 
 
5,528

 
 
4,135

 
 
3,728

Amortization
 
1,380

 
 
1,239

 
 
1,374

 
 
1,347

 
 
1,782

 
 
$
124,102

 
 
$
125,077

 
 
$
121,877

 
 
$
120,243

 
 
$
131,293

Ratio
 
 

(a)
 
 

(a)
 
 

(a)
 
 

(a)
 
1.59

(a)
For the twelve-month periods ended October 31, 2011, 2010, 2009 and 2008, our earnings were not sufficient to cover fixed charges by approximately $63.8 million, $125.2 million, $517.8 million and $493.8 million, respectively.