Exhibit 12.1

STATEMENT OF COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES

	Year Ended December 31,							Three Months Ended December 31, 2000		Year Ended September 30,
	2003		2002		2001					2000		1999
	(dollars in thousands)
Fixed Charges:
Interest expense	$	531,698	$	608,914	$	832,137		$	244,830	$	630,397	$	215,523
Amortization of debt issuance costs		3,084		3,217		3,432			711		1,788		230
Estimated interest within rental expense		11,288		10,501		15,912			5,307		14,202		12,213
Preference securities dividend requirement of consolidated subsidiaries		—		—		—			—		—		6,083
Total fixed charges	$	546,070	$	622,632	$	851,481		$	250,848	$	646,387	$	234,049
Earnings:
Income (loss) before income taxes, minority interest, extraordinary items and cumulative effect of accounting change less equity in income (losses) of investments	$	295,520	$	184,870	$	(254,763	)	$	3,290	$	115,962	$	(74,568	)
Fixed charges		546,070		622,632		851,481			250,848		646,387		234,049
Less:
Preference securities dividend requirement of consolidated subsidiaries		—		—		—			—		—		(6,083	)
Earnings	$	841,590	$	807,502	$	596,718		$	254,138	$	762,349	$	153,398
Ratio of earnings to fixed charges		1.54		1.30		0.70			1.01		1.18		0.66
Excess (deficiency) of earnings to fixed charges	$	295,520	$	184,870	$	(254,763	)	$	3,290	$	115,962	$	(80,651	)

The ratio of earnings to fixed charges is computed by dividing fixed charges into income (loss) before income taxes, minority interest, extraordinary items and the cumulative effect of accounting change less equity in the income (losses) of investments plus fixed charges less the preference securities dividend requirement of consolidated subsidiaries. Fixed charges include, as applicable, interest expense, amortization of debt issuance costs, the estimated interest component of rent expense and the preference securities dividend requirement of consolidated subsidiaries.