Exhibit 12.1

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Year Ended December 31,															Six Months Ended June 30,
	2005			2006			2007			2008			2009			2009			2010
	(dollars in thousands)
Earnings available for fixed charges:
Income before income taxes	$	326,102		$	90,523		$	223,501		$	279,424		$	263,679		$	117,095		$	170,580
Fixed charges		114,965			202,074			290,209			309,033			401,319			196,372			196,808
Amortization of capitalized interest		408			843			2,388			6,041			9,920			4,481			5,706
Capitalized interest		(3,564	)		(17,503	)		(34,867	)		(64,160	)		(37,495	)		(23,071	)		(11,398	)
Total earnings available for fixed charges:	$	437,911		$	275,937		$	481,231		$	530,338		$	637,423		$	294,877		$	361,696
Fixed charges:
Interest expense (1)	$	58,033		$	115,985		$	201,746		$	179,398		$	270,285		$	128,966		$	132,985
Portion of rent expense representative of interest (2)		17,202			28,199			41,392			65,475			93,539			44,335			52,425
Capitalized interest		3,564			17,503			34,867			64,160			37,495			23,071			11,398
Net preferred stock dividends (3)		36,166			40,387			12,204			—			—			—			—
Total fixed charges:	$	114,965		$	202,074		$	290,209		$	309,033		$	401,319		$	196,372		$	196,808
Ratio of earnings to fixed charges:		3.81x			1.37x			1.66x			1.72x			1.59x			1.50x			1.84x

(1) Interest expense includes amortization of deferred debt issuance costs and premiums and discounts related to indebtedness.

(2) The portion of operating rental expense that management believes is representative of interest is estimated to be 33%.

(3) Net preferred stock dividends are the company’s preferred dividend expense net of income tax benefit.