Attached files
| file | filename |
|---|---|
| EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER SECTION 906 - KB HOME | kbh-11302016x10kexhibit321.htm |
| 10-K - 10-K - KB HOME | kbh-11302016x10k.htm |
| EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER SECTION 906 - KB HOME | kbh-11302016x10kexhibit322.htm |
| EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER SECTION 302 - KB HOME | kbh-11302016x10kexhibit312.htm |
| EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER SECTION 302 - KB HOME | kbh-11302016x10kexhibit311.htm |
| EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - KB HOME | kbh-11302016x10kexhibit23.htm |
| EX-21 - SUBSIDIARIES OF REGISTRANT - KB HOME | kbh-11302016x10kexhibit21.htm |
EXHIBIT 12.1
KB HOME | |||||||||||||||||||
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES | |||||||||||||||||||
(In Thousands, Except Ratios) | |||||||||||||||||||
Years Ended November 30, | |||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
Earnings | |||||||||||||||||||
Income (loss) from operations before income taxes | $ | 149,315 | $ | 127,043 | $ | 94,949 | $ | 38,363 | $ | (79,053 | ) | ||||||||
Add: | |||||||||||||||||||
Interest incurred | 185,466 | 186,885 | 171,541 | 149,101 | 132,657 | ||||||||||||||
Amortization of premiums and discounts related to debt | 7,576 | 7,738 | 7,124 | 5,347 | 3,016 | ||||||||||||||
Portion of rent expense considered to be interest | 5,097 | 4,524 | 3,917 | 3,204 | 3,096 | ||||||||||||||
Amortization of previously capitalized interest | 161,285 | 143,255 | 90,804 | 87,414 | 78,630 | ||||||||||||||
Distribution of earnings from unconsolidated joint ventures, net of equity in income (loss) | 9,908 | 11,512 | (1,063 | ) | 2,882 | 1,519 | |||||||||||||
Deduct: | |||||||||||||||||||
Interest capitalized | (179,566 | ) | (165,029 | ) | (140,791 | ) | (86,411 | ) | (62,853 | ) | |||||||||
Income as adjusted | $ | 339,081 | $ | 315,928 | $ | 226,481 | $ | 199,900 | $ | 77,012 | |||||||||
Fixed charges | |||||||||||||||||||
Interest incurred | $ | 185,466 | $ | 186,885 | $ | 171,541 | $ | 149,101 | $ | 132,657 | |||||||||
Amortization of premiums and discounts related to debt | 7,576 | 7,738 | 7,124 | 5,347 | 3,016 | ||||||||||||||
Portion of rent expense considered to be interest | 5,097 | 4,524 | 3,917 | 3,204 | 3,096 | ||||||||||||||
Total fixed charges | $ | 198,139 | $ | 199,147 | $ | 182,582 | $ | 157,652 | $ | 138,769 | |||||||||
Ratio of earnings to fixed charges | 1.71 | x | 1.59 | x | 1.24 | x | 1.27 | x | — | ||||||||||
Coverage deficiency (a) | $ | — | $ | — | $ | — | $ | — | $ | (61,757 | ) | ||||||||
The ratios of earnings to fixed charges are computed on a consolidated basis.
(a) | Earnings for the year ended November 30, 2012 were insufficient to cover fixed charges for the period by $61.8 million. |