CalAtlantic (CAA) S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

Standard Pacific Corp.

Ratio of Earnings to Fixed Charges—Continuing Operations

(Dollars in thousands)

	Nine Months Ended September 30,						Year Ended December 31,
	2009			2008			2008			2007			2006			2005		2004
Earnings:
Net income (loss) from continuing operations	$	(95,880	)	$	(833,767	)	$	(1,231,329	)	$	(695,290	)	$	146,093		$	439,950	$	316,319
Add:
Cash distributions of income from unconsolidated joint ventures		326			771			1,975			16,717			75,416			61,725		67,457
Provision (benefit) for income taxes		298			42,030			(5,495	)		(149,003	)		82,930			269,528		197,083
Homebuilding interest amortized to cost of sales and interest expense		94,885			59,080			97,445			120,596			86,698			63,088		59,278
Interest portion of rent expense		375			375			500			500			500			500		500
Less:
Income (loss) from unconsolidated joint ventures		(4,330	)		(129,663	)		(150,875	)		(188,975	)		(1,959	)		61,226		45,884
Earnings:	$	4,334		$	(601,848	)	$	(986,029	)	$	(517,505	)	$	393,596		$	773,565	$	594,753
Fixed charges:
Homebuilding interest incurred	$	81,411		$	111,638		$	137,398		$	138,593		$	148,355		$	96,184	$	87,510
Interest portion of rent expense		375			375			500			500			500			500		500
Fixed Charges	$	81,786		$	112,013		$	137,898		$	139,093		$	148,855		$	96,684	$	88,010
Ratio of Earnings to Fixed Charges		0.1			(5.4	)		(7.2	)		(3.7	)		2.6			8.0		6.8