EX-12.1 2 a2218341zex-12_1.htm EX-12.1
QuickLinks -- Click here to rapidly navigate through this document


Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Fixed Charges and Preferred Share Distributions
(Amounts in thousands)

 
   Year ended
December 31,
2013 		  Year ended
December 31,
2012 		  Year ended
December 31,
2011 		  Year ended
December 31,
2010 		  Year ended
December 31,
2009 		 

Earnings:

                                

Income before income taxes

   $ 293,697   $ 348,230   $ 326,083   $ 371,766   $ 77,220  

Add: Fixed charges from below

     190,159     216,608     183,067     156,852     289,374  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total earnings before income taxes and fixed charges

   $ 483,856   $ 564,838   $ 509,150   $ 528,618   $ 366,594  

Fixed charges:

                                

Interest expense

   $ 190,159   $ 216,608   $ 183,067   $ 156,852   $ 289,374  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges

   $ 190,159   $ 216,608   $ 183,067   $ 156,852   $ 289,374  

Ratio of earnings to fixed charges

     2.5x     2.6x     2.8x     3.4x     1.3x  

Total fixed charges

   $ 190,159   $ 216,608   $ 183,067   $ 156,852   $ 289,374  

Preferred share distributions

     27,411     —     —     —     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges and preferred share distributions

   $ 217,570   $ 216,608   $ 183,067   $ 156,852   $ 289,374  

Ratio of earnings to fixed charges and preferred share distributions

     2.2x     2.6x     2.8x     3.4x     1.3x  



QuickLinks

Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Fixed Charges and Preferred Share Distributions (Amounts in thousands)