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Filing tables
Filing exhibits
- 10-K Annual report
- 4.5 Indenture Dated As of February 6, 2004
- 10.16 Agreement for Sixth Modification of Deeds of Trust and Other Loan Agreement
- 10.20 Third Agreement to Modify Loan Agreement
- 10.29 Underwriting Agreement Dated As of March 12, 2003
- 10.32 Amendment No. 1 to Credit Agreement Dated As of January 27, 2004
- 10.33 Purchase Agreement Dated As of January 28, 2004
- 10.34 Registration Rights Agreement Dated As of February 6, 2004
- 12.1 Statement of Ratio of Earnings to Fixed Charges
- 21.1 List of Subsidiaries
- 23.1 Consent of Independent Auditors
- 31.1 CEO Certification Pursuant to Section 302 of Sarbanes-oxley Act
- 31.2 Certification of CFO Pursuant to Section 302 of Sarbanes-oxley Act
- 32.1 Certification of CEO Pursuant to Sec. 906 of Sarbanes-oxley Act
- 32.2 Certification of CFO Pursuant to Section 906 of Sarbanes-oxley Act
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Exhibit 12.1
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31, | ||||||||||||||||||||
2003 | 2002 | 2001 | 2000 | 1999 | ||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Income before provision for income taxes | $ | 123,952 | $ | 67,781 | $ | 53,525 | $ | 51,745 | $ | 47,718 | ||||||||||
Interest incurred | 47,188 | 26,783 | 21,908 | 26,012 | 24,500 | |||||||||||||||
Less interest capitalized | (47,188 | ) | (26,783 | ) | (21,681 | ) | (20,455 | ) | (18,347 | ) | ||||||||||
Amortization of capitalized interest included in cost of sales | 36,376 | 28,109 | 20,537 | 21,373 | 23,771 | |||||||||||||||
Cash distributions of income from unconsolidated joint ventures | 37,501 | 24,621 | 18,404 | 24,865 | 7,604 | |||||||||||||||
Less equity in income of unconsolidated joint ventures | (31,236 | ) | (27,748 | ) | (22,384 | ) | (24,416 | ) | (17,859 | ) | ||||||||||
Earnings | $ | 166,593 | $ | 92,763 | $ | 70,309 | $ | 79,124 | $ | 67,387 | ||||||||||
Interest incurred | ||||||||||||||||||||
Interest expensed | $ | — | $ | — | $ | 227 | $ | 5,557 | $ | 6,153 | ||||||||||
Interest capitalized | 47,188 | 26,783 | 21,681 | 20,455 | 18,347 | |||||||||||||||
Fixed Charges | $ | 47,188 | $ | 26,783 | $ | 21,908 | $ | 26,012 | $ | 24,500 | ||||||||||
Ratio of Earnings to Fixed Charges | 3.53x | 3.46x | 3.21x | 3.04x | 2.75x | |||||||||||||||