EX-12.1 2 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Statement Regarding Computation of Ratios of Earnings to Fixed Charges

Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

     For the year ended December 31,
(dollars in thousands)    2007    2006    2005    2004    2003

Income before net loss on real estate disposals, income taxes, minority interest, discontinued operations and preferred stock dividends and issuance costs

   $ 118,138    $ 123,587    $ 117,389    $ 91,352    $ 87,952

Interest expense

              

Senior notes payable and other debt

     201,319      134,056      98,041      60,057      55,548

United States settlement

     —        —        —        —        4,943
                                  

Earnings

   $ 319,457    $ 257,643    $ 215,430    $ 151,409    $ 148,443
                                  

Interest expense

              

Senior notes payable and other debt

   $ 201,319    $ 134,056    $ 98,041    $ 60,057    $ 55,548

United States settlement

     —        —        —        —        4,943
                                  

Fixed charges

   $ 201,319    $ 134,056    $ 98,041    $ 60,057    $ 60,491
                                  

Ratio of Earnings to Fixed Charges

     1.59      1.92      2.20      2.52      2.45