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Exhibit 12.1
VECTOR GROUP LTD.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands, Except Ratios)
(Unaudited)
| Year Ended December 31, | ||||||||||||||
| 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||
| Earnings as defined: | ||||||||||||||
| Pre-tax income | 53,717 | 123,157 | 85,570 | 28,537 | 94,572 | |||||||||
| Distributions from investees | 19,169 | 9,322 | 12,212 | 6,715 | 13,741 | |||||||||
| Interest expense | 132,538 | 93,939 | 72,572 | 104,415 | 37,998 | |||||||||
| (Income) in equity of affiliate | (29,764 | ) | (19,966 | ) | (23,963 | ) | (15,213 | ) | (24,399 | ) | ||||
| Interest portion of rental expense (1) | 1,367 | 1,438 | 1,223 | 1,301 | 1,275 | |||||||||
| Total earnings | 177,027 | 207,890 | 147,614 | 125,755 | 123,187 | |||||||||
| Fixed charges as defined: | ||||||||||||||
| Interest expense | 132,538 | 93,939 | 72,572 | 104,415 | 37,998 | |||||||||
| Interest portion of rent expense (1) | 1,367 | 1,438 | 1,223 | 1,301 | 1,275 | |||||||||
| Total fixed charges | 133,905 | 95,377 | 73,795 | 105,716 | 39,273 | |||||||||
| Ratio of earnings to fixed charges | 1.32 | 2.18 | 2.00 | 1.19 | 3.14 | |||||||||
________________________
(1) One-third of rent expense is the portion deemed representative of the interest factor.