M/I Homes Second Indiana S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

M/I Homes, Inc.

Computation of Ratio of Earnings to Fixed Charges

	Three Months Ended March 31,						Fiscal Year Ended December 31,
(Dollars in Thousands)	2012			2011			2011			2010			2009			2008			2007
Earnings:
Loss from continuing operations before income taxes	$	(4,374	)	$	(16,966	)	$	(33,902	)	$	(27,404	)	$	(92,989	)	$	(215,124	)	$	(150,876	)
Add:
Loss (income) of unconsolidated joint ventures		2			10			23			(276	)		1			(158	)		892
Fixed charges from below		6,805			6,513			26,062			21,026			20,186			24,023			38,394
Interest amortized to cost of sales		2,565			2,338			10,949			13,339			11,720			12,969			18,397
Less:
Interest capitalized		(1,866	)		(2,162	)		(9,743	)		(9,744	)		(9,552	)		(9,593	)		(18,118	)
Total earnings (loss)	$	3,132		$	(10,267	)	$	(6,611	)	$	(3,059	)	$	(70,634	)	$	(187,883	)	$	(111,311	)
Fixed charges:
Interest incurred (a)	$	5,885		$	5,548		$	22,287		$	16,286		$	14,838		$	18,174		$	31,391
Amortization of debt costs		587			649			2,461			2,873			3,181			2,616			2,070
Rental expense interest factor		333			316			1,314			1,867			2,167			3,233			4,933
Total fixed charges	$	6,805		$	6,513		$	26,062		$	21,026		$	20,186		$	24,023		$	38,394
Ratio of earnings to fixed charges		0.46			—			—			—			—			—			—
Coverage deficiency	$	3,673		$	16,780		$	32,673		$	24,085		$	90,820		$	211,906			149,705

(a) The Company records interest accrued on certain tax positions in income tax (benefit) provision. Interest included in “fixed charges” is only interest on third party indebtedness, and interest expense accrued on uncertain tax positions is excluded from the calculation of “earnings.”

The ratio of earnings to fixed charges is determined by dividing earnings by fixed charges. Earnings consists of loss from continuing operations before income taxes, loss (income) of unconsolidated joint ventures, fixed charges and interest amortized to cost of sales, excluding capitalized interest. Fixed charges consists of interest incurred, amortization of debt costs and that portion of operating lease rental expense (33%) deemed to be representative of interest.