D.R. Horton (DHI) 10-Q2017 Q1 Quarterly report

Filed: 25 Jan 17, 12:00am

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Removed: acquirer, adjustment, broaden, Chicago, choose, consolidate, content, Crown, doubt, eventual, expanded, Florida, footnote, identified, intended, objective, perform, provisional, recently, Regent, repaid, repayment, responsibility, resulted, unamortized

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Exhibit 12.1

D.R. HORTON, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES



	Three Months Ended December 31, 2016		For the Fiscal Year Ended September 30,
	Three Months Ended December 31, 2016		2016		2015		2014		2013		2012
	($ in millions)
Consolidated income before income taxes	$	318.1	$	1,353.5	$	1,123.4	$	814.2	$	657.8	$	242.9
Amortization of capitalized interest	34.7		169.1		159.7		124.4		110.9		94.1
Interest expensed	1.5		6.2		5.6		4.8		11.7		31.5
Earnings	$	354.3	$	1,528.8	$	1,288.7	$	943.4	$	780.4	$	368.5
Interest incurred	$	35.0	$	158.5	$	174.8	$	190.6	$	177.3	$	128.7
Fixed charges	$	35.0	$	158.5	$	174.8	$	190.6	$	177.3	$	128.7
Ratio of earnings to fixed charges	10.12		9.65		7.37		4.95		4.40		2.86