WILLIAM LYON HOMES - FORM 10-K - EX-12.1 - STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - March 29, 2010

Attached files

file filename
10-K - WILLIAM LYON HOMES FORM 10-K - WILLIAM LYON HOMESd10k.htm
EX-32.1 - CERTIFICATION OF CEO - SECTION 906 - WILLIAM LYON HOMESdex321.htm
EX-21.1 - LIST OF SUBSIDIARIES OF WILLIAM LYON HOMES - WILLIAM LYON HOMESdex211.htm
EX-31.1 - CERTIFICATION OF CEO - SECTION 302 - WILLIAM LYON HOMESdex311.htm
EX-32.2 - CERTIFICATION OF CFO - SECTION 906 - WILLIAM LYON HOMESdex322.htm
EX-31.2 - CERTIFICATION OF CFO - SECTION 302 - WILLIAM LYON HOMESdex312.htm

Exhibit 12.1

STATEMENT OF COMPUTATION OF RATIO OF (LOSS) EARNINGS TO FIXED CHARGES

 

     Year Ended December 31,  
     2009     2008     2007     2006     2005  
     (dollars in thousands)  

(Loss) Income before provision for income taxes

    $ (122,861 )    $ (163,676 )    $ (305,624 )    $ 123,709      $ 314,780   

Interest incurred

      48,782        66,748        76,497        80,173        73,208   

Less interest capitalized

      (12,880 )      (42,308 )      (76,497 )      (80,173 )      (73,208 ) 

Amortization of capitalized interest included in cost of sales

      17,978        37,907        57,241        54,356        55,748   

Non-cash impairment charge

      45,269        141,207        231,120        39,895        4,600   

Gain on retirement of debt

      (78,144 )      (54,044 )      —        —        —   

Cash distributions of income from unconsolidated joint ventures

      —        816        —        2,599        2,708   

Less equity in loss (income) of unconsolidated joint ventures

      420        3,877        (304 )      (3,242 )      (4,301 ) 
                                        

(Loss) Earnings

    $ (101,436 )    $ (9,473 )    $ (17,567 )    $ 217,317      $ 373,535   
                                        

Interest incurred

           

Interest incurred

    $ 48,782      $ 66,748      $ 76,497      $ 80,173      $ 73,208   
                                        

Fixed Charges

    $ 48,782      $ 66,748      $ 76,497      $ 80,173      $ 73,208   
                                        

Ratio of (Loss) Earnings to Fixed Charges

      (2.08x )      (0.14x )      (0.23x )      2.71x        5.10x   
                                        

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