Exhibit 12.1
AV Homes, Inc.
Computation of Ratio of Income to Fixed Charges
(in thousands)
| Year ended December 31, | Three Months Ended March 31, | |||||||||||||||||||||||
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) before income taxes and effects of changes in accounting principles | $ | (165,704 | ) | $ | (87,683 | ) | $ | (8,272 | ) | $ | (1,603 | ) | $ | 12,386 | $ | 859 | ||||||||
Less: net income (loss) from noncontrolling interests | (296 | ) | 2,552 | 1,205 | 329 | — | — | |||||||||||||||||
Plus:fixed charges | 10,088 | 9,266 | 9,330 | 18,148 | 28,277 | 6,874 | ||||||||||||||||||
Plus:amortization of previously capitalized interest | 273 | 913 | 2,455 | 4,622 | 11,041 | 3,126 | ||||||||||||||||||
Less:capitalized interest | 439 | 1,263 | 6,466 | 12,302 | 19,168 | 5,581 | ||||||||||||||||||
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Earnings | $ | (155,486 | ) | $ | (81,319 | ) | $ | (4,158 | ) | $ | 8,536 | $ | 32,536 | $ | 5,278 | |||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expensed and capitalized | $ | 8,192 | $ | 6,658 | $ | 7,769 | $ | 16,078 | $ | 25,590 | $ | 6,134 | ||||||||||||
Amortization of discount and debt issue costs | 1,763 | 2,578 | 1,527 | 2,029 | 2,617 | 719 | ||||||||||||||||||
Interest portion of rental expense | 133 | 30 | 34 | 41 | 70 | 21 | ||||||||||||||||||
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Fixed charges | $ | 10,088 | $ | 9,266 | $ | 9,330 | $ | 18,148 | $ | 28,277 | $ | 6,874 | ||||||||||||
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Ratio of earnings to fixed charges | N/A | N/A | N/A | 0.47 | 1.15 | 0.77 | ||||||||||||||||||
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Excess (deficiency) amount | $ | (165,574 | ) | $ | (90,585 | ) | $ | (13,488 | ) | $ | (9,612 | ) | $ | 4,259 | $ | (1,596 | ) | |||||||
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