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,
	2013		2012			2012			2011			2010			2009			2008
Earnings:
Net income (loss) from continuing operations	$	64,960	$	22,786		$	531,421		$	(16,417	)	$	(11,724	)	$	(13,217	)	$	(1,231,329	)
Add:
Cash distributions of income from unconsolidated joint ventures		3,375		160			3,910			20			—			3,465			1,975
Provision (benefit) for income taxes		21,577		376			(453,234	)		(56	)		(557	)		(96,265	)		(5,495	)
Homebuilding interest amortized to cost of sales and interest expense		58,547		47,187			110,298			94,804			100,739			134,188			93,551
Interest portion of rent expense		250		250			500			500			500			500			500
Less:
Income (loss) from unconsolidated joint ventures		1,281		(2,668	)		(2,090	)		207			1,166			(4,598	)		(150,875	)
Earnings:	$	147,428	$	73,427		$	194,985		$	78,644		$	87,792		$	33,269		$	(989,923	)
Fixed charges:
Homebuilding interest incurred	$	68,553	$	70,620		$	141,827		$	140,905		$	110,358		$	107,976		$	137,398
Interest portion of rent expense		250		250			500			500			500			500			500
Fixed Charges	$	68,803	$	70,870		$	142,327		$	141,405		$	110,858		$	108,476		$	137,898
Ratio of Earnings to Fixed Charges		2.1		1.0			1.4			0.6			0.8			0.3			(7.2	)
Amount of additional earnings needed to cover fixed charges:	$	—	$	—		$	—		$	62,761		$	23,066		$	75,207		$	1,127,821