Toll Brothers Finance S-4/A Registration of securities issued in business combination transactions (amended)

Exhibit 12

Statement Regarding Computation of Ratio of Earnings to Fixed Charges

	October 31,
	2007		2008			2009			2010			2011
(Loss) earnings:
(Loss) income before income taxes	$	70,680	$	(466,787	)	$	(496,465	)	$	(117,187	)	$	(29,366	)
Interest expense		102,652		89,300			96,727			106,997			80,282
Rent expense		6,294		6,382			5,812			5,528			4,135
Amortization		1,102		1,380			1,239			1,374			1,347
	$	180,728	$	(369,725	)	$	(392,687	)	$	(3,288	)	$	56,398
Fixed charges:
Homebuilding Interest incurred	$	136,758	$	116,340		$	118,026		$	114,975		$	114,761
Rent expense		6,294		6,382			5,812			5,528			4,135
Amortization		1,102		1,380			1,239			1,374			1,347
	$	144,154	$	124,102		$	125,077		$	121,877		$	120,243
Ratio		1.25		(a	)		(a	)		(a	)		(a	)

(a) For the twelve-month periods ended October 31, 2011, 2010, 2009 and 2008, our earnings were not sufficient to cover fixed charges by approximately $63.8 million, $125.2 million, $517.8 million and $493.8 million, respectively.