| Exhibit 12.1 | ||||||||||||||||||||||||
| Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||
| (in thousands, except ratio computation) | ||||||||||||||||||||||||
| Three Months Ended | Year Ended December 31, | |||||||||||||||||||||||
| March 31, 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||
| Pretax income (loss) from continuing operations before adjustment for noncontrolling interest | $ | 28,702 | $ | 48,479 | $ | (4,192 | ) | $ | 17,431 | $ | (3,928 | ) | $ | 49,151 | ||||||||||
| Adjustments: | ||||||||||||||||||||||||
| Equity in (income) loss of unconsolidated joint ventures | (8,261 | ) | (1,648 | ) | (542 | ) | (4,829 | ) | 116 | 88 | ||||||||||||||
| Fixed charges | 18,901 | 77,098 | 80,394 | 89,929 | 82,090 | 76,400 | ||||||||||||||||||
| Distributed income of equity investees | — | 53 | 3,337 | 1,465 | 346 | 371 | ||||||||||||||||||
| Capitalized interest | (701 | ) | (2,863 | ) | (4,742 | ) | (2,273 | ) | (2,244 | ) | (1,430 | ) | ||||||||||||
| Earnings as defined | $ | 38,641 | $ | 121,119 | $ | 74,255 | $ | 101,723 | $ | 76,380 | $ | 124,580 | ||||||||||||
| Fixed charges | ||||||||||||||||||||||||
| Interest expense | $ | 18,221 | $ | 74,292 | $ | 75,794 | $ | 84,246 | $ | 75,104 | $ | 71,229 | ||||||||||||
| Capitalized interest | 701 | 2,863 | 4,742 | 2,273 | 2,244 | 1,430 | ||||||||||||||||||
| (Accretion) amortization of debt (premiums) discounts, net | (620 | ) | (2,478 | ) | (2,627 | ) | 1,178 | 2,818 | 2,221 | |||||||||||||||
| Amortization of loan fees | 599 | 2,421 | 2,485 | 2,232 | 1,924 | 1,520 | ||||||||||||||||||
| Fixed charges | $ | 18,901 | $ | 77,098 | $ | 80,394 | $ | 89,929 | $ | 82,090 | $ | 76,400 | ||||||||||||
| Ratio of earning to fixed charges | 2.04 | 1.57 | * | 1.13 | * | 1.63 | ||||||||||||||||||
* Earnings for the years ended December 31, 2012 and 2010 were insufficient to cover combined fixed charges by approximately $6.1 million and $5.7 million, respectively. Other than the years ended December 31, 2012 and 2010, there are no periods in which earnings were insufficient to cover combined fixed charges.