EXHIBIT 12.1: Computation of Ratio of Earnings to Fixed Charges
(amounts in thousands, except ratio)

	Year ended December 31,
	1997			1998			1999			2000			2001
Consolidated pretax income before extraordinary item	$	36,470		$	75,158		$	109,336		$	134,840		$	225,580
Share of distributed income of 50%-or-less-owned affiliates net of equity pickup		1,334			2,602			(263	)		(163	)		(26	)
Amortization of capitalized interest		21,581			20,645			19,027			27,581			31,878
Interest		74,950			63,410			52,764			62,610			55,327
Less interest capitalized during the period		(17,636	)		(18,601	)		(24,397	)		(34,105	)		(31,675	)
Net amortization of debt discount and premium and issuance expense		84			36			33			—			—
Interest portion of rental expense		3,541			4,709			4,522			6,065			7,190
EARNINGS	$	120,324		$	147,959		$	161,022		$	196,828		$	288,274
Interest	$	74,950		$	63,410		$	52,764		$	62,610		$	55,327
Net amortization of debt discount and premium and issuance expense		84			36			33			—			—
Interest portion of rental expense		3,541			4,709			4,522			6,065			7,190
FIXED CHARGES	$	78,575		$	68,155		$	57,319		$	68,675		$	62,517
Ratio of earnings to fixed charges		1.53			2.17			2.81			2.87			4.61