CalAtlantic (CAA) 8-K Other events

Exhibit 12.1

Standard Pacific Corp.

Ratio of Earnings to Fixed Charges—Continuing Operations

(Dollars in thousands)

	Year Ended December 31,
	2003			2002			2001			2000			1999
Earnings:
Net income	$	204,379		$	118,689		$	111,065		$	100,142		$	68,030
Add:
Cash distributions of income from unconsolidated joint ventures		63,905			18,034			27,876			7,754			7,531
Income taxes		130,719			75,992			73,411			66,005			46,492
Homebuilding interest expense		6,847			5,489			4,158			3,599			1,519
Expensing of previously capitalized interest included in cost of sales		62,607			48,208			39,990			33,854			27,401
Interest portion of rent expense		500			400			400			400			400
Less:
Income from unconsolidated joint ventures		(63,916	)		(29,939	)		(28,387	)		(17,196	)		(6,984	)
Net gain (loss) from discontinued operations, net of income taxes		—			—			—			—			(459	)
Earnings:	$	405,041		$	236,873		$	228,513		$	194,558		$	143,930
Fixed charges:
Homebuilding interest incurred	$	76,032		$	56,667		$	49,478		$	39,627		$	35,151
Interest portion of rent expense		500			400			400			400			400
Fixed Charges	$	76,532		$	57,067		$	49,878		$	40,027		$	35,551
Ratio of Earnings to Fixed Charges		5.3			4.2			4.6			4.9			4.0