Ryland Inactive 10-Q2013 Q1 Quarterly report

Filed: 8 May 13, 12:00am

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New words: Absent, accommodating, accrual, attempting, Clarifying, complex, consummation, criteria, decisive, diversification, entirety, entry, exposed, face, grow, grown, indeterminate, involve, lease, matter, merger, method, Metro, mitigate, multiple, nonvested, opportunistic, Person, preacquisition, presence, prospectively, provision, range, recovered, resale, shift, sought, speculative, Subsidiary, surviving, transaction, transfer, undetermined, undistributed, unforeseen, unpredictability, unsettled, unspecified, view, wrote

Removed: absolute, anticipation, applied, attain, backed, broader, combine, declined, degree, deliver, deposit, determining, largely, LPS, meaningful, moderate, persist, predicting, pressure, reclassify, replacement, reserve, reverse, slightly, soft, stabilization, stable, sustaining

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Exhibit 12.1: Computation of Ratio of Earnings to Fixed Charges

											THREE MONTHS
											ENDED
			TWELVE MONTHS ENDED DECEMBER 31,								MARCH 31,
(in thousands, except ratio)	2008		2009		2010		2011		2012		2013
(Loss) income from continuing operations before taxes	$	(378,571)	$	(240,542)	$	(80,497)	$	(32,732)	$	43,967	$	22,203
Share of distributed loss (income) of
50%-or-less-owned affiliates,
net of equity pickup	43,926		(308)		3,705		976		(1,218)		(164)
Amortization of capitalized interest	57,700		51,477		40,791		32,068		40,612		11,114
Interest	37,348		46,949		55,615		56,635		59,503		16,805
Less: interest capitalized during the period	(44,893)		(35,931)		(31,221)		(38,032)		(42,327)		(12,894)
Interest portion of rental expense	7,114		4,354		3,733		2,360		1,976		484
(LOSS) EARNINGS	$	(277,376)	$	(174,001)	$	(7,874)	$	21,275	$	102,513	$	37,548

Interest	$	37,348	$	46,949	$	55,615	$	56,635	$	59,503	$	16,805
Interest portion of rental expense	7,114		4,354		3,733		2,360		1,976		484
FIXED CHARGES	$	44,462	$	51,303	$	59,348	$	58,995	$	61,479	$	17,289

(DEFICIENCY) SURPLUS	$	(321,838)	$	(225,304)	$	(67,222)	$	(37,720)	$	41,034	$	20,259

Ratio of earnings to fixed charges	-		-		-		-		1.67		2.17