EXHIBIT 12.1
PULTE HOMES, INC.
COMPUTATION OF EARNINGS TO FIXED CHARGES
Year Ended December 31,
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2001 2000 1999 1998 1997
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Earnings:
Income from continuing operations before taxes $491,787 $355,096 $286,405 $165,814 $ 80,975
Add:
Fixed Charges 137,982 78,599 66,851 59,544 53,095
Amortization of Capitalized Interest 36,006 28,019 25,187 20,164 18,503
Subtract:
Capitalized Interest (80,399) (33,129) (27,923) (21,801) (20,376)
Earnings of 50% or less owned affiliates (11,265) (13,169) (10,898) (4,163) (1,515)
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Income as adjusted $574,111 $415,416 $339,622 $219,558 $130,682
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Fixed Charges:
Interest expensed and capitalized 125,949 70,227 59,551 52,754 45,601
Portion of rents representative of interest factor 12,033 8,372 7,300 6,790 7,494
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Fixed charges $137,982 $ 78,599 $ 66,851 $ 59,544 $ 53,095
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Ratio of earnings to fixed charges 4.16 5.29 5.08 3.69 2.46
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