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Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)	For the Three Months Ended March 31, 2012
Income before income from unconsolidated entities, income taxes, discontinued operations and noncontrolling interest	$	58,784
Interest expense
Senior notes payable and other debt		70,668
Distributions from unconsolidated entities		1,868
Earnings	$	131,320
Interest
Senior notes payable and other debt expense	$	70,668
Interest capitalized		466
Fixed charges	$	71,134
Ratio of Earnings to Fixed Charges		1.85

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Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES