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)

	Three Months Ended March 31,						Year Ended December 31,
	2010			2009			2009			2008			2007			2006			2005
Earnings:
Net income (loss) from continuing operations	$	(5,071	)	$	(48,968	)	$	(13,217	)	$	(1,231,329	)	$	(695,290	)	$	146,093		$	439,950
Add:
Cash distributions of income from unconsolidated joint ventures		—			—			3,465			1,975			16,717			75,416			61,725
Provision (benefit) for income taxes		89			255			(96,265	)		(5,495	)		(149,003	)		82,930			269,528
Homebuilding interest amortized to cost of sales and interest expense		23,781			25,718			134,188			93,551			120,596			86,698			63,088
Interest portion of rent expense		125			125			500			500			500			500			500
Less:
Income (loss) from unconsolidated joint ventures		(434	)		3,089			(4,598	)		(150,875	)		(188,975	)		(1,959	)		61,226
Earnings:	$	19,358		$	(25,959	)	$	33,269		$	(989,923	)	$	(517,505	)	$	393,596		$	773,565
Fixed charges:
Homebuilding interest incurred	$	26,230		$	28,396		$	107,976		$	137,398		$	138,595		$	148,355		$	96,184
Interest portion of rent expense		125			125			500			500			500			500			500
Fixed Charges	$	26,355		$	28,521		$	108,476		$	137,898		$	139,095		$	148,855		$	96,684
Ratio of Earnings to Fixed Charges		0.7			(0.9	)		0.3			(7.2	)		(3.7	)		2.6			8.0