EXHIBIT 12.1

Ratio of Earnings to Fixed Charges
Total enterprise (with Financial Services reflected on
the equity method)

		Three Months Ended
		June 30,						Fiscal Years Ended March 31,
		2003			2002			2003			2002			2001			2000			1999
Fixed Charges
(A) Interest Expensed and Capitalized			37,279			33,885			143,682			128,483			105,107			66,844			41,581
	Interest on JV with guaranteed debt		—			354			828			—			—			—			—
(B) Amortized Premiums, Discounts and capitalized interest related to indebtedness		included in (A)			included in (A)			included in (A)			included in (A)			included in(A)			included in (A)			included in (A)
(C) An estimate of the interest within rental expense			1,800			2,025			7,200			11,043			9,645			7,950			6,262
(D) Preference security dividend requirements of consolidated subsidiaries			N/A			N/A			N/A			N/A			N/A			N/A			N/A
Total Fixed Charges			39,079			36,264			151,710			139,526			114,752			74,794			47,843
Earnings
ADD:
(A) Pre-tax earnings			209,070			124,726			794,851			618,765			436,331			416,861			373,294
	Losses on JV’s with guaranteed debt		—			(692	)		(114	)		—			—			—			—
Add back: minority interest in consolidated subsidiaries			7,485			8,882			30,373			20,776			32,415			64,772			53,613
Adjust for income or loss from equity investees Subtract: Financial Services earnings (pre-tax)			(65,599	)		(24,306	)		(161,825	)		(114,733	)		(19,667	)		(32,688	)		(92,512	)
Subtract: CDC earnings (add back losses)			(4,458	)		773			(12,534	)		(18,739	)		(4,616	)		(456	)		(430	)
Subtract: JV earnings if earnings exceed distributions (add back all losses)			(516	)		282			(1,519	)		(4,267	)		786			101			418
			145,982			109,665			649,232			501,802			445,249			448,590			334,383
(B) Add back: fixed charges			39,079			36,264			151,710			139,526			114,752			74,794			47,843
(C) Add back: Amortization of capitalized interest			13,174			8,358			49,450			40,851			35,115			—			—
(D) Add back: distributed income of equity investee			N/A			N/A			N/A			N/A			N/A			N/A			N/A
(E) Your share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges			N/A			N/A			N/A			N/A			N/A			N/A			N/A
			198,235			154,287			850,392			682,179			595,116			523,384			382,226
Subtract
(A) Capitalized Interest			(20,315	)		(18,551	)		(73,572	)		(53,568	)		(41,153	)		—			—
(B) Preference security dividend requirements of consolidated subsidiaries			N/A			N/A			N/A			N/A			N/A			N/A			N/A
(C) Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges			N/A			N/A			N/A			N/A			N/A			N/A			N/A
			(20,315	)		(18,551	)		(73,572	)		(53,568	)		(41,153	)		—			—
Total Earnings		$	177,920		$	135,736		$	776,820		$	628,611		$	553,963		$	523,384		$	382,226
Ratio of earnings to fixed charges - 6/30/03			4.55			3.74			5.12			4.51			4.83			7.00			7.99

Ratio of Earnings to Fixed Charges
Total enterprise

			Three Months Ended
			June 30,						Fiscal Years Ended March 31,
			2003			2002			2003			2002			2001			2000			1999
Fixed Charges
(A) Interest Expensed and Capitalized				88,307			78,532			328,133			287,628			197,679			128,520			118,451
		Interest on JV with guaranteed debt		—			354			828			—			—			—			—
(B) Amortized Premiums, Discounts and capitalized interest related to indebtedness			included in (A)			included in (A)			included in (A)			included in (A)			included in (A)			included in (A)			included in (A)
(C) An estimate of the interest within rental expense				2,325			2,650			9,300			11,043			12,839			8,357			10,457
(D) Preference security dividend requirements of consolidated subsidiaries				N/A			N/A			N/A			N/A			N/A			N/A			N/A
Total Fixed Charges			$	90,632		$	81,536		$	338,261		$	298,671		$	210,518		$	136,877		$	128,908
Earnings
ADD:
(A) Pre-tax earnings				209,070			124,726			794,851			618,765			436,331			416,861			373,294
	Losses on JV’s with guaranteed debt			—			(692	)		(114	)		—			—			—			—
Add back: minority interest in consolidated subsidiaries				7,485			8,882			30,373			20,776			32,415			64,772			53,613
Adjust for income or loss from equity investees
Subtract : CDC earnings (add back losses)				(4,458	)		773			(12,534	)		(18,739	)		(4,616	)		(456	)		(430	)
Subtract : JV earnings if earnings exceed distributions (add back all losses)				(516	)		282			(1,519	)		(4,267	)		786			101			418
				211,581			133,971			811,057			616,535			464,916			481,278			426,895
(B) Add back: fixed charges				90,632			81,536			338,261			298,671			210,518			136,877			128,908
(C) Add back: Amortization of capitalized interest				13,174			8,358			49,450			40,851			35,115			—			—
(D) Add back: distributed income of equity investee				N/A			N/A			N/A			N/A			N/A			N/A			N/A
(E) Your share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges				N/A			N/A			N/A			N/A			N/A			N/A			N/A
				315,387			223,865			1,198,768			956,057			710,549			618,155			555,803
Subtract
(A) Capitalized Interest				(20,315	)		(18,551	)		(73,572	)		(53,568	)		(41,153	)		—			—
(B) Preference security dividend requirements of consolidated subsidiaries				N/A			N/A			N/A			N/A			N/A			N/A			N/A
(C) Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges				N/A			N/A			N/A			N/A			N/A			N/A			N/A
				(20,315	)		(18,551	)		(73,572	)		(53,568	)		(41,153	)		—			—
Net Earnings			$	295,072		$	205,314		$	1,125,196		$	902,489		$	669,396		$	618,155		$	555,803
Ratio of earnings to fixed charges - 6/30/03				3.26			2.52			3.33			3.02			3.18			4.52			4.31