Exhibit 12.1 Computation of Ratio of Earnings to Fixed Charges and Preferred Unit Distributions: First Quarter Fiscal Year ---------- --------------------------------- 2002 2001 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- ---- ---- (in millions, except ratios) Income (loss) from operations before income taxes............. $ (8) $ 43 $ 67 $105 $240 $174 $ 83 Add (deduct): Fixed charges................... 133 126 572 533 518 415 364 Capitalized interest............ (1) (2) (8) (8) (7) (4) (1) Amortization of capitalized interest....................... 2 2 7 6 6 6 5 Net (gains) losses related to certain 50% or less owned affiliate...................... 5 (3) 6 (24) (6) (1) (1) Minority interest in consolidated affiliates........ 5 7 16 27 21 52 31 ---- ---- ---- ---- ---- ---- ---- Adjusted earnings............... 136 173 660 $639 $772 $642 $481 ==== ==== ==== ==== ==== ==== ==== Fixed charges: Interest on indebtedness and amortization of deferred financing costs................ $113 $110 $493 $466 $469 $335 $288 Dividends on convertible preferred securities of subsidiary trust............... -- -- -- -- -- 37 37 Distributions on preferred limited partner units.......... 9 5 32 20 6 -- -- Portion of rents representative of the interest factor......... 11 11 47 47 43 43 39 ---- ---- ---- ---- ---- ---- ---- Total fixed charges and preferred unit distributions... 133 126 572 $533 $518 $415 $364 ==== ==== ==== ==== ==== ==== ==== Ratio of earnings to fixed charges and preferred unit distributions.................. 1.02 1.37 1.15 1.20 1.49 1.54 1.32