Attached files
| file | filename |
|---|---|
| EX-32.2 - CERTIFICATION - WCI Communities, Inc. | d839632dex322.htm |
| EX-31.1 - CERTIFICATION - WCI Communities, Inc. | d839632dex311.htm |
| EX-21.1 - LIST OF SUBSIDIARIES - WCI Communities, Inc. | d839632dex211.htm |
| EX-32.1 - CERTIFICATION - WCI Communities, Inc. | d839632dex321.htm |
| EX-23.1 - CONSENT - WCI Communities, Inc. | d839632dex231.htm |
| EX-10.24 - WCI MANAGEMENT INCENTIVE COMPENSATION PLAN 2015 - WCI Communities, Inc. | d839632dex1024.htm |
| EX-31.2 - CERTIFICATION - WCI Communities, Inc. | d839632dex312.htm |
| EX-10.25 - 2015 REAL ESTATE SERVICES INCENTIVE COMPENSATION PLAN - WCI Communities, Inc. | d839632dex1025.htm |
| EXCEL - IDEA: XBRL DOCUMENT - WCI Communities, Inc. | Financial_Report.xls |
| 10-K - 10-K - WCI Communities, Inc. | d839632d10k.htm |
Exhibit 12.1
WCI Communities, Inc.
Statement of the Computations of the Ratio of Earnings to
Fixed Charges and Preferred Stock Dividends
($ in thousands)
| Years Ended December 31, | ||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | |||||||||||||
| (in thousands) | ||||||||||||||||
| Earnings |
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| Income (loss) from continuing operations before income taxes |
$ | 36,036 | $ | 20,776 | $ | (4,305 | ) | $ | (54,453 | ) | ||||||
| Fixed charges |
17,793 | 15,143 | 17,016 | 19,246 | ||||||||||||
| Amortization of capitalized interest |
6,306 | 4,257 | 2,304 | 988 | ||||||||||||
| Capitalized interest |
(15,719 | ) | (11,741 | ) | (9,249 | ) | (1,261 | ) | ||||||||
| Distributions in excess of (less than) earnings for equity method investees |
— | 123 | (9 | ) | 43 | |||||||||||
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| Total earnings, as adjusted |
$ | 44,416 | $ | 28,558 | $ | 5,757 | $ | (35,437 | ) | |||||||
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| Fixed Charges |
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| Interest incurred, both expensed and capitalized |
$ | 16,859 | $ | 14,278 | $ | 16,227 | $ | 18,215 | ||||||||
| Interest portion of rental expense |
934 | 865 | 789 | 1,031 | ||||||||||||
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| Total fixed charges |
$ | 17,793 | $ | 15,143 | $ | 17,016 | $ | 19,246 | ||||||||
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| Ratio of Earnings to Fixed Charges |
2.5 | 1.9 | (A | ) | (A | ) | ||||||||||
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| (A) | Total earnings (loss), as adjusted, was inadequate to cover fixed charges for the years ended December 31, 2012 and 2011. Additional earnings of approximately $11.3 million and $54.7 million, respectively, would have been necessary to eliminate the respective deficits and bring the ratio of earnings to fixed charges to 1.0. |
For the years indicated above, we had no outstanding shares of preferred stock with required dividend payments. Therefore, the ratios of earnings to fixed charges and preferred stock dividends were identical to the ratios presented in the above table.