Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - KB HOME | v54027e10vk.htm |
| EX-21 - EX-21 - KB HOME | v54027exv21.htm |
| EX-31.1 - EX-31.1 - KB HOME | v54027exv31w1.htm |
| EX-32.1 - EX-32.1 - KB HOME | v54027exv32w1.htm |
| EX-31.2 - EX-31.2 - KB HOME | v54027exv31w2.htm |
| EX-32.2 - EX-32.2 - KB HOME | v54027exv32w2.htm |
| EX-10.54 - EX-10.54 - KB HOME | v54027exv10w54.htm |
| EX-10.55 - EX-10.55 - KB HOME | v54027exv10w55.htm |
| EX-10.53 - EX-10.53 - KB HOME | v54027exv10w53.htm |
| EX-23 - EX-23 - KB HOME | v54027exv23.htm |
EXHIBIT 12.1
KB
HOME
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands, Except Ratios)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands, Except Ratios)
| Years Ended November 30, | ||||||||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
|
Earnings
|
||||||||||||||||||||
|
Income (loss) from continuing operations before income taxes
|
$ | (311,184 | ) | $ | (967,931 | ) | $ | (1,460,770 | ) | $ | 571,847 | $ | 1,201,534 | |||||||
|
Add:
|
||||||||||||||||||||
|
Interest incurred
|
119,602 | 156,402 | 199,550 | 237,801 | 164,245 | |||||||||||||||
|
Amortization of premiums and discounts related to debt
|
1,586 | 2,062 | 2,478 | 2,441 | 1,550 | |||||||||||||||
|
Portion of rent expense considered to be interest
|
7,507 | 16,503 | 28,464 | 27,657 | 19,294 | |||||||||||||||
|
Amortization of previously capitalized interest
|
138,179 | 129,901 | 171,496 | 143,249 | 100,971 | |||||||||||||||
|
Distribution of earnings from unconsolidated joint ventures, net
of equity in income (loss)
|
43,262 | 157,393 | 171,576 | 15,164 | (2,472 | ) | ||||||||||||||
|
Deduct:
|
||||||||||||||||||||
|
Interest capitalized
|
(67,839 | ) | (143,436 | ) | (186,560 | ) | (221,074 | ) | (142,738 | ) | ||||||||||
|
Income (loss) as adjusted
|
$ | (68,887 | ) | $ | (649,106 | ) | $ | (1,073,766 | ) | $ | 777,085 | $ | 1,342,384 | |||||||
|
Fixed charges
|
||||||||||||||||||||
|
Interest incurred
|
$ | 119,602 | $ | 156,402 | $ | 199,550 | $ | 237,801 | $ | 164,245 | ||||||||||
|
Amortization of premiums and discounts related to debt
|
1,586 | 2,062 | 2,478 | 2,441 | 1,550 | |||||||||||||||
|
Portion of rent expense considered to be interest
|
7,507 | 16,503 | 28,464 | 27,657 | 19,294 | |||||||||||||||
| $ | 128,695 | $ | 174,967 | $ | 230,492 | $ | 267,899 | $ | 185,089 | |||||||||||
|
Ratio of earnings to fixed charges
|
— | — | — | 2.90 | 7.25 | |||||||||||||||
|
Coverage deficiency (a)
|
$ | (197,582 | ) | $ | (824,073 | ) | $ | (1,304,258 | ) | $ | — | $ | — | |||||||
The ratios of earnings to fixed charges are computed on a
consolidated basis excluding the French discontinued operations.
| (a) | Earnings for the years ended November 30, 2009, 2008 and 2007 were insufficient to cover fixed charges for the periods by $197.6 million, $824.1 million and $1.30 billion, respectively. |