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Computation of Ratio of Earnings to Fixed Charges
| | Years Ended October 31, | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
(Dollars in Thousands) | Three Months Ended January 31, 2004 | |||||||||||||
2003 | 2002 | 2001 | 2000 | 1999 | ||||||||||
Net Income (Loss) | 57,711 | 257,380 | 137,696 | 63,686 | 33,163 | 30,075 | ||||||||
Add: | ||||||||||||||
Federal and State Income Taxes | 34,984 | 154,138 | 88,034 | 42,668 | 18,655 | 19,206 | ||||||||
Interest Expensed Res & Comm | 16,943 | 63,658 | 60,371 | 51,446 | 34,956 | 31,570 | ||||||||
Interest Expensed Mortgage & Financing Subsidiaries | 390 | 2,487 | 2,337 | 3,180 | 2,491 | 3,240 | ||||||||
Amortization of Bond Prepaid Expenses | 463 | 2,978 | 2,119 | 976 | 670 | 1,885 | ||||||||
Amoritization of Bond Discount | 138 | 514 | 441 | 367 | 30 | — | ||||||||
Total Earnings | 110,629 | 481,155 | 290,998 | 162,323 | 89,965 | 85,976 | ||||||||
Fixed Charges: | ||||||||||||||
Interest Incurred Res & Comm | 21,587 | 66,332 | 57,406 | 47,272 | 38,878 | 24,594 | ||||||||
Interest Incurred Mortgage & Financing Subsidiaries | 390 | 2,487 | 2,337 | 3,180 | 2,491 | 3,240 | ||||||||
Amortization of Bond Prepaid Expenses | 463 | 2,978 | 2,119 | 976 | 670 | 1,885 | ||||||||
Amortization of Bond Discount | 138 | 514 | 441 | 367 | 30 | — | ||||||||
Total Fixed Charges | 22,578 | 72,311 | 62,303 | 51,795 | 42,069 | 29,719 | ||||||||
Ratio | 4.9 | 6.7 | 4.7 | 3.1 | 2.1 | 2.9 |
Computation of Ratio of Earnings to Fixed Charges