Exhibit 12.1
Standard Pacific Corp.
Ratio of Earnings to Fixed Charges—Continuing Operations
(Dollars in thousands)
Year Ended December 31, | ||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Net income (loss) from continuing operations | $ | (11,724 | ) | $ | (13,217 | ) | $ | (1,231,329 | ) | $ | (695,290 | ) | $ | 146,093 | ||||||
Add: | ||||||||||||||||||||
Cash distributions of income from unconsolidated joint ventures | — | 3,465 | 1,975 | 16,717 | 75,416 | |||||||||||||||
Provision (benefit) for income taxes | (557 | ) | (96,265 | ) | (5,495 | ) | (149,003 | ) | 82,930 | |||||||||||
Homebuilding interest amortized to cost of sales and interest expense | 100,739 | 134,188 | 93,551 | 120,596 | 86,698 | |||||||||||||||
Interest portion of rent expense | 500 | 500 | 500 | 500 | 500 | |||||||||||||||
Less: | ||||||||||||||||||||
Income (loss) from unconsolidated joint ventures | 1,166 | (4,598 | ) | (150,875 | ) | (188,975 | ) | (1,959 | ) | |||||||||||
Earnings: | $ | 87,792 | $ | 33,269 | $ | (989,923 | ) | $ | (517,505 | ) | $ | 393,596 | ||||||||
Fixed charges: | ||||||||||||||||||||
Homebuilding interest incurred | $ | 110,358 | $ | 107,976 | $ | 137,398 | $ | 138,595 | $ | 148,355 | ||||||||||
Interest portion of rent expense | 500 | 500 | 500 | 500 | 500 | |||||||||||||||
Fixed Charges | $ | 110,858 | $ | 108,476 | $ | 137,898 | $ | 139,095 | $ | 148,855 | ||||||||||
Ratio of Earnings to Fixed Charges | 0.8 | 0.3 | (7.2 | ) | (3.7 | ) | 2.6 | |||||||||||||