EX-12.1 2 a2193708zex-12_1.htm EXHIBIT 12.1
QuickLinks -- Click here to rapidly navigate through this document


Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS

 
  Six
Months ended
June 30,
2009
  Six
Months ended
June 30,
2008
  Year Ended December 31,  
 
  2008   2007   2006   2005   2004  
 
  (in thousands)
 

Earnings:

                                           
 

Income (loss) from continuing operations before income taxes

  $ 90,252   $ (14,884 ) $ (188,157 ) $ (2,705 ) $ 72,850   $ 70,866   $ 54,167  
 

Plus: Fixed charges

    136,605     138,325     278,465     75,331     53,037     54,236     52,036  
 

Plus: Amortization of capitalized interest(a)

                             
 

Less: Interest capitalized(a)

                             
 

Less: Preference security dividends

    (15,484 )   (6,482 )   (17,940 )   (960 )            
                               

Total earnings

  $ 211,373   $ 116,959   $ 72,368   $ 71,666   $ 125,887   $ 125,102   $ 106,203  
                               

Fixed charges:

                                           
 

Total interest expense, including amortization of debt discount and issuance costs(b)

  $ 104,770   $ 112,953   $ 224,334   $ 50,016   $ 29,845   $ 30,427   $ 28,147  
 

Interest capitalized(a)

                             
 

Estimated interest within rent expense(c)

    16,351     18,890     36,191     24,355     23,192     23,809     23,889  
 

Preference security dividends

    15,484     6,482     17,940     960              
                               

Total fixed charges

  $ 136,605   $ 138,325   $ 278,465   $ 75,331   $ 53,037   $ 54,236   $ 52,036  
                               

Ratio of earnings to fixed charges(d)

    1.55     0.85     0.26     0.95     2.37     2.31     2.04  
                               

(a)
De minimis for all periods presented.

(b)
Excludes interest expense on uncertain tax positions which the Registrant has elected to treat as a component of income tax expense.

(c)
The Registrant determined that 1/3 of rent expense represents a reasonable approximation of the interest component.

(d)
For the six months ended June 30, 2008, and for the years ended December 31, 2008 and 2007, earnings were insufficient to cover fixed charges by $21,366,000, $206,097,000 and $3,665,000, respectively.



QuickLinks

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS