EXHIBIT 12.1

Computation of Ratio of Earnings to Fixed Charges
	Year Ended December 31,
	2013		2012		2011		2010	2009
Earnings:
Net income (loss) attributable to the Company	269,865		208,050		164,384		153,902	(3,595	)
Provision for income taxes	92,092		69,244		56,387		49,038	5,677
Equity (earnings) losses from real estate ventures	(26,212	)	(21,885	)	(6,385	)	11,379	58,867
Operating distributions from real estate ventures	13,672		10,641		593		188	157
Fixed charges	80,608		81,569		75,237		78,549	88,598
Total Earnings	430,025		347,619		290,216		293,056	149,704
Fixed Charges:
Interest expense	32,441		33,349		33,756		41,723	52,005
Amortization of debt issuance costs	4,437		4,375		—		—	—
Applicable portion of rent expense (1)	43,730		43,845		41,481		36,826	36,593
Total Fixed Charges	80,608		81,569		75,237		78,549	88,598
Ratio of Earnings to Fixed Charges	5.33		4.26		3.86		3.73	1.69
(1) Represents one-third of rent expense, which we believe approximates the portion of rent expense that relates to interest.