Ryland 10-Q 2005 Q3 Quarterly report

EXHIBIT 12.1

Computation of Ratio of Earnings to Fixed Charges

(in thousands, except ratio)

																Nine Months
																Ended
	2000			2001			2002			2003			2004			September 30, 2005
Consolidated pretax income	$	134,840		$	218,336		$	309,340		$	396,217		$	521,212		$	459,771
Share of distributed income of 50%-or-less-owned
affiliates net of equity pickup	(163		)	(26		)	(2,689		)	94			(5,772		)	(324		)
Amortization of capitalized interest	27,581			31,878			32,162			38,263			41,764			32,108
Interest	62,610			55,327			49,086			50,125			53,242			51,301
Less interest capitalized during the period	(34,105		)	(31,675		)	(39,695		)	(42,602		)	(52,015		)	(50,658		)
Interest portion of rental expense	6,065			7,190			6,679			5,973			5,639			4,151
EARNINGS	$	196,828		$	281,030		$	354,883		$	448,070		$	564,070		$	496,349
Interest	$	62,610		$	55,327		$	49,086		$	50,125		$	53,242		$	51,301
Interest portion of rental expense	6,065			7,190			6,679			5,973			5,639			4,151
FIXED CHARGES	$	68,675		$	62,517		$	55,765		$	56,098		$	58,881		$	55,452
Ratio of earnings to fixed charges	2.87			4.50			6.36			7.99			9.58			8.95