Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(dollars in thousands) |  | For the Six Months Ended June 30, 2013
Income before income from unconsolidated entities, income taxes, discontinued operations and noncontrolling interest |  | $ | 240,750 |
Interest expense |  |
Senior notes payable and other debt |  | 162,452 |
Distributions from unconsolidated entities |  | 3,723 |
Earnings |  | $ | 406,925 |
Interest |  |
Senior notes payable and other debt expense |  | $ | 162,452 |
Interest capitalized |  | 494 |
Fixed charges |  | $ | 162,946 |
Ratio of Earnings to Fixed Charges |  | 2.50 |