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- 3.1 Exhibit 3.1
- 3.2 Exhibit 3.2
- 3.3 Exhibit 3.3
- 3.4 Exhibit 3.4
- 3.5 Exhibit 3.5
- 3.6 Exhibit 3.6
- 3.7 Exhibit 3.7
- 3.8 Exhibit 3.8
- 3.9 Exhibit 3.9
- 3.10 Exhibit 3.10
- 3.11 Exhibit 3.11
- 3.12 Exhibit 3.12
- 3.13 Exhibit 3.13
- 3.14 Exhibit 3.14
- 3.15 Exhibit 3.15
- 3.16 Exhibit 3.16
- 3.17 Exhibit 3.17
- 3.18 Exhibit 3.18
- 3.19 Exhibit 3.19
- 3.20 Exhibit 3.20
- 3.21 Exhibit 3.21
- 3.22 Exhibit 3.22
- 3.23 Exhibit 3.23
- 3.24 Exhibit 3.24
- 3.25 Exhibit 3.25
- 3.26 Exhibit 3.26
- 3.27 Exhibit 3.27
- 3.28 Exhibit 3.28
- 3.29 Exhibit 3.29
- 3.30 Exhibit 3.30
- 3.31 Exhibit 3.31
- 3.32 Exhibit 3.32
- 3.33 Exhibit 3.33
- 3.34 Exhibit 3.34
- 3.35 Exhibit 3.35
- 3.36 Exhibit 3.36
- 3.37 Exhibit 3.37
- 3.38 Exhibit 3.38
- 12.1 Exhibit 12.1
- 23.1 Exhibit 23.1
Exhibit 12.1
HOVNANIAN ENTERPRISES, INC.
Statement setting forth computation showing the ratio of earnings
to fixed charges, including wholly owned
mortgage banking and finance subsidiaries
(Dollars in Thousands)
|
| Six Months |
| Year Ended |
| Year Ended |
| Year Ended |
| Year Ended |
| Year Ended |
|
Net Income |
| 97,329 |
| 137,696 |
| 63,686 |
| 33,163 |
| 30,075 |
| 25,403 |
|
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal and State Income Taxes |
| 58,235 |
| 88,034 |
| 42,668 |
| 18,655 |
| 19,206 |
| 14,738 |
|
Interest Expensed Res & Comm |
| 27,104 |
| 60,371 |
| 51,446 |
| 34,956 |
| 31,570 |
| 39,352 |
|
Interest Expensed Mortgage & Finance Subsidiaries |
| 841 |
| 2,337 |
| 3,180 |
| 2,491 |
| 3,240 |
| 3,099 |
|
Amortization of Bond Prepaid Expenses |
| 637 |
| 2,119 |
| 976 |
| 670 |
| 1,885 |
| 1,776 |
|
Amortization of Bond Discount |
| 250 |
| 441 |
| 367 |
| 30 |
| — |
| — |
|
Total Earnings |
| 184,396 |
| 290,998 |
| 162,323 |
| 89,965 |
| 85,976 |
| 84,368 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Incurred Res & Comm |
| 30,425 |
| 57,406 |
| 47,272 |
| 38,878 |
| 24,594 |
| 28,947 |
|
Interest Incurred Mortgage & Finance Subsidiaries |
| 841 |
| 2,337 |
| 3,180 |
| 2,491 |
| 3,240 |
| 3,099 |
|
Amortization of Bond Prepaid Expenses |
| 637 |
| 2,119 |
| 976 |
| 670 |
| 1,885 |
| 1,776 |
|
Amortization of Bond Discount |
| 250 |
| 441 |
| 367 |
| 30 |
| — |
| — |
|
Total Fixed Charges |
| 32,153 |
| 62,303 |
| 51,795 |
| 42,069 |
| 29,719 |
| 33,822 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio |
| 5.7 |
| 4.7 |
| 3.1 |
| 2.1 |
| 2.9 |
| 2.5 |
|