EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO COMBINED  FIXED CHARGES AND PREFERRED STOCK DIVIDENDS  (Unaudited and in thousands, except ratio data)

|                                                                    |                                                                      | Year Ended December 31, |        
|------------------------------------------------------------------- | -------------------------------------------------------------------- | ----------------------- | -------
|
|Income before minority interest                                     |                                                                      | $                       | 90,362 
|Add:                                                                |                                                                      |                         |        
|                                                                    | Extraordinary charges                                                |                         |        
|                                                                    | Distributed income of equity investees                               |                         |        
|                                                                    | Fixed charges excluding capitalized interest
and preferred dividends |                         |        
|                                                                    | Amortization of capitalized interest                                 |                         |        
|Deduct:                                                             |                                                                      |                         |        
|                                                                    | Equity in earnings of equity investees                               |                         |        
|                                                                    |                                                                      |                         |        
|                                                                    |                                                                      | $                       | 157,446
|                                                                    |                                                                      |                         |        
|Fixed Charges:                                                      |                                                                      |                         |        
|                                                                    | Interest expense including amortization of debt costs                |                         | $      
|                                                                    | Capitalized interest                                                 |                         |        
|                                                                    |                                                                      |                         |        
|                                                                    | Total fixed charges                                                  |                         | $      
|                                                                    | Preferred stock dividends (1)                                        |                         |        
|                                                                    |                                                                      |                         |        
|                                                                    | Total fixed charges and preferred dividends                          |                         | $      
|                                                                    |                                                                      |                         |        
|Ratio of earnings to combined fixed charges                         |                                                                      |                         | 1.7    
|Ratio of earnings to combined fixed charges
and preferred dividends |                                                                      |                         | 1.7    

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