Exhibit 12.1

	2012			2013			2014			2015			2016			2017
Earnings
Earnings (loss) before income taxes from continuing operations		(175,970	)		(35,653	)		(6,874	)		22,030			21,703			34,649
Plus: Fixed charges		126,892			116,720			128,703			123,482			120,930			107,171
Less: Capitalized interest		(53,444	)		(55,618	)		(76,122	)		(92,002	)		(93,972	)		(89,915	)
Add: Interest amortized to COS		60,952			41,246			40,820			56,164			78,611			88,764
Add: Interest impaired to COS		275			—			245			—			710			56
Earnings available for fixed charges		(41,295	)		66,695			86,772			109,674			127,982			140,725
Fixed Charges		126,892			116,720			128,703			123,482			120,930			107,171
Ratio of Earnings to Fixed Charges		(a	)		0.6x			0.7x			0.9x			1.1x			1.3x