Exhibit 12.1
AV Homes, Inc.
Ratio of Earnings to Fixed Charges
| Year Ended December 31, | Three Months Ended March 31, | |||||||||||||||||||||||
| (dollars in thousands) | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) before income taxes and effects of changes in accounting principles | $ | (87,683 | ) | $ | (8,272 | ) | $ | (1,603 | ) | $ | 12,386 | $ | 37,586 | $ | 4,168 | |||||||||
Less: net income fromnon-controlling interests | 2,552 | 1,205 | 329 | — | — | — | ||||||||||||||||||
Plus: fixed charges | 9,266 | 9,330 | 18,148 | 28,277 | 26,239 | 6,224 | ||||||||||||||||||
Plus: amortization of previously capitalized interest | 913 | 2,455 | 4,622 | 11,041 | 20,766 | 4,485 | ||||||||||||||||||
Less: capitalized interest | 1,263 | 6,466 | 12,302 | 19,168 | 22,478 | 5,368 | ||||||||||||||||||
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Earnings | $ | (81,319 | ) | $ | (4,158 | ) | $ | 8,536 | $ | 32,536 | $ | 62,113 | $ | 9,509 | ||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest expensed and capitalized | $ | 6,658 | $ | 7,769 | $ | 16,078 | $ | 25,590 | $ | 23,258 | $ | 5,456 | ||||||||||||
Amortization of discount and debt issue costs | 2,578 | 1,527 | 2,029 | 2,617 | 2,887 | 749 | ||||||||||||||||||
Interest portion of rental expense | 30 | 34 | 41 | 70 | 94 | 19 | ||||||||||||||||||
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Fixed Charges | $ | 9,266 | $ | 9,330 | $ | 18,148 | $ | 28,277 | $ | 26,239 | $ | 6,224 | ||||||||||||
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Ratio of Earnings to Fixed Charges | N/A | N/A | 0.47 | 1.15 | 2.37 | 1.53 | ||||||||||||||||||
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Excess (Deficiency) Amount | $ | (90,585 | ) | $ | (13,488 | ) | $ | (9,612 | ) | $ | 4,259 | $ | 35,874 | $ | 3,285 | |||||||||
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