M/I Homes of Austin S-3 Shelf registration

Exhibit 12.1

M/I Homes, Inc.

Statement of Computation of Ratio of Earnings to Fixed Charges and

Ratio of Earnings to Combined Fixed Charges and Preferred Dividends

RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months			Nine Months
	Ended			Ended			Fiscal Year Ended December 31,
(Dollars in Thousands)	2013			2012			2012			2011			2010			2009			2008
Earnings:
Income (Loss) from continuing operations before income taxes	$	26,033		$	7,377		$	12,759		($	33,902	)	($	27,404	)	($	92,989	)	($	215,124	)
Add:
Loss (income) of unconsolidated joint ventures		(278	)		10			12			23			(276	)		1			(158	)
Fixed charges from below		23,253			20,157			27,389			26,062			21,026			20,186			24,023
Interest amortized to cost of sales		11,295			9,211			13,468			10,949			13,339			11,720			12,969
Less:
Interest capitalized		(10,046	)		(7,128	)		(9,975	)		(9,743	)		(9,744	)		(9,552	)		(9,593	)
Total (loss) earnings (a)	$	50,257		$	29,627		$	43,653		($	6,611	)	($	3,059	)	($	70,634	)	($	187,883	)
Fixed Charges:
Interest incurred (a)	$	19,677		$	17,372		$	23,462		$	22,287		$	16,286		$	14,838		$	18,174
Amortization of debt costs		2,555			1,822			2,584			2,461			2,873			3,181			2,616
Rental expense interest factor		1,021			963			1,343			1,314			1,867			2,167			3,233
Total fixed charges	$	23,253		$	20,157		$	27,389		$	26,062		$	21,026		$	20,186		$	24,023
Ratio of earnings to fixed charges		2.16			1.47			1.59			—			—			—			—
Coverage deficiency		—			—			—		$	32,673		$	24,085		$	90,820		$	211,906
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Dollars in Thousands)	2013			2012			2012			2011			2010			2009			2008
Total earnings (loss)- from above	$	50,257		$	29,627		$	43,653		($	6,611	)	($	3,059	)	($	70,634	)	($	187,883	)
Total fixed charges- from above		23,253			20,157			27,389			26,062			21,026			20,186			24,023
Preferred stock dividends (adjusted to pretax dollars)		2,438			0			0			0			0			0			7,863
Combined fixed charges and preferred stock dividends	$	25,691		$	20,157		$	27,389		$	26,062		$	21,026		$	20,186		$	31,886
Ratio of earnings to combined fixed charges and preferred stock dividends		1.96			1.47			1.59			—			—			—			—
Coverage deficiency		—			—			—		$	32,673		$	24,085		$	90,820		$	219,769

(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 consist of (loss) income from continuing operations before income taxes, loss (income) of unconsolidated joint ventures, fixed charges, interest amortized to cost of sales, excluding capitalized interest. Fixed charges consist of interest incurred, amortization of debt costs and that portion of operating lease rental expense (33%) deemed to be representative of interest. The ratio of earnings to combined fixed charges and preferred stock dividends is determined by dividing earnings by combined fixed charges and preferred stock dividends. Preferred stock dividends represent preferred stock dividends multiplied by the ratio which pre-tax income from continuing operations bears to income from continuing operations.