Exhibit 12.1
| Six Months Ended | ||||||||||||||||||||||||||||
| Fiscal Year ended September 30, | March 31 | |||||||||||||||||||||||||||
| 2012 | 2013 | 2014 | 2015 | 2016 | 2016 | 2017 | ||||||||||||||||||||||
Earnings | ||||||||||||||||||||||||||||
Earnings (loss) before income taxes from continuing operations | (175,970 | ) | (35,653 | ) | (6,874 | ) | 22,030 | 21,703 | (3,395 | ) | (15,858 | ) | ||||||||||||||||
Plus: Fixed charges | 126,892 | 116,720 | 128,703 | 123,482 | 120,930 | 61,352 | 54,396 | |||||||||||||||||||||
Less: Capitalized interest | (53,444 | ) | (55,618 | ) | (76,122 | ) | (92,002 | ) | (93,972 | ) | (46,490 | ) | (44,271 | ) | ||||||||||||||
Add: Interest amortized to COS | 60,952 | 41,246 | 40,820 | 56,164 | 78,611 | 29,724 | 35,463 | |||||||||||||||||||||
Add: Interest impaired to COS | 275 | — | 245 | — | 710 | 84 | — | |||||||||||||||||||||
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Earnings available for fixed charges | (41,295 | ) | 66,695 | 86,772 | 109,674 | 127,982 | 41,275 | 29,730 | ||||||||||||||||||||
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Fixed Charges | 126,892 | 116,720 | 128,703 | 123,482 | 120,930 | 61,352 | 54,396 | |||||||||||||||||||||
Ratio of Earnings to Fixed Charges | (a | ) | 0.6x | 0.7x | 0.9x | 1.1x | 0.7x | 0.6x | ||||||||||||||||||||
| (a) | Earnings for the fiscal year ended September 30, 2012 were insufficient to cover fixed charges by $41 million. |