EX-12 2 a2211786zex-12.htm EX-12
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Exhibit 12

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 
  Year Ended September 30,  
(in thousands)
  2008   2009   2010   2011   2012  

Fixed Charges Computation

                               

Interest expensed and capitalized(1)

  $ 23,092   $ 33,961   $ 55,908   $ 106,557   $ 38,809  

Amortized premiums, discounts, and capitalized expenses related to indebtedness

    8,747     13,459     16,027     20,069     14,184  

Reasonable approximation of interest within rental expense

    3,180     3,377     3,670     3,323     3,106  
                       

Total Fixed Charges and Preferred Equity Dividends

  $ 35,019   $ 50,797   $ 75,605   $ 129,949   $ 56,099  
                       

Earnings Computation

                               

Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees

  $ (166,432 ) $ (491,730 ) $ (46,390 ) $ (138,093 ) $ (16,454 )

Plus

                               

Fixed charges

    35,019     50,797     75,605     129,949     56,099  

Minus

                               

Interest capitalized

    894     1,396     441     91     137  
                       

Total Earnings

  $ (132,307 ) $ (442,329 ) $ 28,774   $ (8,235 ) $ 39,508  
                       

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

    N/A *   N/A *   0.38     N/A *   0.70  

*
Total earnings for these periods were less than zero dollars. The deficiency of earnings to fixed charges for the years ended September 30, 2008, 2009, and 2011 were $167.3 million, $493.1 million, and $138.2 million, respectively.

(1)
Interest expense associated with unrecognized tax benefits is included in income tax expense, not with interest expense.



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