Carolina Investment S-4 Registration of securities issued in business combination transactions

QuickLinks -- Click here to rapidly navigate through this document

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

		2002			2003			2004			2005			2006			Nine Months Ended 9/30/07
Interest expense, including amortization of debt issuance costs		$	38,513		$	38,568		$	45,355		$	41,007		$	37,492		$	33,835
Capitalized interest			11,413			7,820			6,935			730			1,686			8,523
	Fixed charges (a)		49,926			46,388			52,290			40,277			39,178			42,358
Income before taxes and extraordinary items			124,477			75,437			475,033			360,626			631,555			473,646
Amortization of capitalized interest			2,932			3,859			3,670			4,073			4,814			4,025
Less capitalized interest			(11,413	)		(7,820	)		(6,935	)		(730	)		(1,686	)		(8,523	)
	Adjusted earnings (b)	$	165,922		$	117,864		$	524,058		$	404,245		$	673,861		$	511,506
Ratio (b) / (a)			3.32	x		2.54	x		10.02	x		10.04	x		17.20	x		12.08	x

QuickLinks

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES