Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - HORTON D R INC /DE/Financial_Report.xls
EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C. - HORTON D R INC /DE/a2014930-10kexhibit322.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302(A) - HORTON D R INC /DE/a2014930-10kexhibit312.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - HORTON D R INC /DE/a2014930-10kexhibit231.htm
EX-21.1 - SUBSIDIARIES OF D.R. HORTON, INC. - HORTON D R INC /DE/a2014930-10kexhibit211.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302(A) - HORTON D R INC /DE/a2014930-10kexhibit311.htm
10-K - 10-K - HORTON D R INC /DE/a2014930-10k.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. - HORTON D R INC /DE/a2014930-10kexhibit321.htm


Exhibit 12.1
D.R. HORTON, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES


 
 
For the Fiscal Year Ended September 30,
 
 
2014
 
2013
 
2012
 
2011
 
2010
 
 
($ in millions)
Consolidated income before income taxes
 
$
814.2

 
$
657.8

 
$
242.9

 
$
12.1

 
$
99.5

Noncontrolling interests in losses before income taxes of majority owned subsidiaries
    which have incurred losses
 

 

 

 

 
(0.2
)
Amortization of capitalized interest
 
124.4

 
110.9

 
94.1

 
92.0

 
124.2

Interest expensed
 
4.8

 
11.7

 
31.5

 
57.0

 
94.4

Earnings
 
$
943.4

 
$
780.4

 
$
368.5

 
$
161.1

 
$
317.9

Interest incurred
 
$
190.6

 
$
177.3

 
$
128.7

 
$
136.7

 
$
181.3

Fixed charges
 
$
190.6

 
$
177.3

 
$
128.7

 
$
136.7

 
$
181.3

Ratio of earnings to fixed charges
 
4.95

 
4.40

 
2.86

 
1.18

 
1.75