Meritage Homes Construction S-3ASR Automatic shelf registration

EXHIBIT 12.1

Meritage Homes Corporation

Calculation of Ratio of Earnings to Total Fixed Charges

(Dollars in thousands)

	For the Three Months Ended March 31,			Year Ended December 31,
	2018			2017			2016			2015			2014			2013
Income from continuing operations before income taxes and minority interest		48,884			247,519			218,060			189,464			208,417			177,672
Income from equity method investees		(2,610	)		(15,959	)		(19,042	)		(12,759	)		(10,422	)		(12,805	)
		46,274			231,560			199,018			176,705			197,995			164,867
Add/(deduct):
+ Fixed Charges		21,619			82,278			72,952			69,753			60,541			53,285
+ Amortization of Capitalized Interest		17,469			64,824			58,182			44,435			32,143			24,668
+ Distributed income of equity method investees		3,244			15,337			16,959			12,650			11,613			13,013
- Interest capitalized		(20,733	)		(75,192	)		(65,176	)		(51,577	)		(53,211	)		(36,060	)
Earnings available for fixed charges		67,873			318,807			281,935			251,966			249,081			219,773
Fixed Charges:
Interest and other financial charges expensed and capitalized		20,869			79,045			70,348			67,542			58,374			51,152
Interest factor attributed to rentals (a)		750			3,233			2,604			2,211			2,167			2,133
Fixed Charges		21,619			82,278			72,952			69,753			60,541			53,285
Ratio of earnings to fixed charges (b)		3.1x			3.9x			3.9x			3.6x			4.1x			4.1x

(a) The interest factor attributable to rentals consists ofone-third of rental charges, which is deemed by the Company to be representative of the interest factor inherent in rent.

(b) There was no outstanding preferred stock during the periods presented; therefore, the ratio of earnings to fixed charges and earnings to combined fixed charges and preferred stock dividends were the same.