CalAtlantic (CAA) 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

Standard Pacific Corp.

Ratio of Earnings to Fixed Charges—Continuing Operations

(Dollars in thousands)

	Six Months Ended June 30,					Year Ended December 31,
	2007			2006		2006			2005		2004		2003		2002
Earnings:
Net income	$	(206,710	)	$	191,252	$	123,693		$	440,984	$	315,817	$	204,379	$	118,689
Add:
Cash distributions of income from unconsolidated joint ventures		10,103			51,271		75,422			61,725		67,457		63,905		18,034
Provision (benefit) for income taxes		(128,575	)		117,858		70,040			269,830		196,799		130,719		75,992
Expensing of previously capitalized interest included in cost of sales		49,461			34,374		88,933			64,580		59,382		62,607		48,208
Interest portion of rent expense		250			250		500			500		500		500		400
Less:
Income (loss) from unconsolidated joint ventures		(80,182	)		26,785		(1,880	)		61,196		45,906		57,069		24,450
Earnings:	$	(195,289	)	$	368,220	$	360,468		$	776,423	$	594,049	$	405,041	$	236,873
Fixed charges:
Homebuilding interest incurred	$	66,697		$	69,601	$	148,335		$	95,554	$	87,085	$	76,032	$	56,667
Interest portion of rent expense		250			250		500			500		500		500		400
Fixed Charges	$	66,947		$	69,851	$	148,835		$	96,054	$	87,585	$	76,532	$	57,067
Ratio of Earnings to Fixed Charges		(2.9	)		5.3		2.4			8.1		6.8		5.3		4.2