Exhibit 12.1

VECTOR GROUP LTD.

Computation of Ratio of Earnings to Fixed Charges

(Dollars in Thousands, Except Ratios)

(Unaudited)

	Three Months Ended March 31,			Year Ended December 31,
	2016	2015		2015	2014		2013		2012		2011
Earnings as defined:
Pre-tax income	35,756	34,348		107,705	82,279		60,720		53,806		122,245
Distributions from investees	931	898		7,152	6,568		6,262		21,467		10,022
Interest expense	21,026	25,286		96,236	146,787		147,084		132,538		93,939
Income in equity of affiliate	2,178	(338	)	680	(7,243	)	(26,051	)	(30,028	)	(19,256	)
Interest portion of rental expense (1)	2,059	1,743		8,149	7,505		2,174		1,367		1,438
Total earnings	61,950	61,937		219,922	235,896		190,189		179,150		208,388
Fixed charges as defined:
Interest expense	21,026	25,286		96,236	146,787		147,084		132,538		93,939
Interest portion of rent expense (1)	2,059	1,743		8,149	7,505		2,174		1,367		1,438
Total fixed charges	23,085	27,029		104,385	154,292		149,258		133,905		95,377
Ratio of earnings to fixed charges	2.68	2.29		2.11	1.53		1.27		1.34		2.18

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(1) One third of rent expense is the portion deemed representative of the interest factor.