EX-12.1 5 a2025086zex-12_1.txt EXHIBIT 12.1 EXHIBIT 12.1 D.R. HORTON, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the fiscal years For the nine months ended September 30, ended June 30, --------------------------------------------------- ------------------- 1995 1996 1997 1998 1999 1999 2000 --------------------------------------------------- ------------------- ($'s in thousands) Consolidated pretax income from continuing operations................. $58,022 $ 89,814 $108,550 $159,099 $263,826 $182,196 $209,731 Amortization of capitalized interest.... 18,734 25,670 29,323 47,995 58,153 40,789 47,224 Interest expensed....................... 9,551 10,006 11,707 17,453 18,565 13,038 13,478 --------------------------------------------------- ------------------- Earnings............................ $86,307 $125,490 $149,580 $224,547 $340,544 $236,023 $270,433 =================================================== =================== Interest incurred....................... $34,500 $ 39,807 $ 51,978 $ 71,649 $ 83,090 $ 59,762 $ 82,665 --------------------------------------------------- ------------------- Fixed charges....................... $34,500 $ 39,807 $ 51,978 $ 71,649 $ 83,090 $ 59,762 $ 82,665 =================================================== =================== Ratio of earnings to fixed charges...... 2.50 3.15 2.88 3.13 4.10 3.95 3.27 =================================================== ===================