1 EXHIBIT 12.1 Litchfield Financial Corporation Ratio of Earnings to Fixed Charges SIX MONTHS ENDED YEAR ENDED DECEMBER 31, JUNE 30, ---------------------------------- ----------- 1992 1993 1994 1995 1996 1996 1997 ---- ---- ---- ---- ---- ---- ---- Income before income taxes and extraordinary item 2,448 3,677 4,318 5,515 8,574 3,836 4,919 Interest Expense 629 2,717 3,158 6,138 7,197 3,297 5,042 ----------------------------------- ------------ Total 3,077 6,394 7,476 11,653 15,771 7,133 9,961 =================================== ============ Total 3,077 6,394 7,476 11,653 15,771 7,133 9,961 ----- ----- ----- ------ ------ ----- ----- Interest Expense 629 2,717 3,158 6,138 7,197 3,297 5,042 Ratio of earnings to fixed charges 4.89 2.35 2.37 1.90 2.19 2.16 1.98 =================================== ============