EX-12 2 a2222212zex-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,  
(dollars in thousands)
  2010   2011   2012   2013   2014  

Fixed Charges Computation

                               

Interest expensed and capitalized(1)

  $ 55,908   $ 106,557   $ 38,809   $ 37,100   $ 44,768  

Amortized premiums, discounts, and capitalized expenses related to indebtedness          

    16,027     20,069     14,184     5,841     2,175  

Reasonable approximation of interest within rental expense

    3,670     3,323     3,106     3,454     3,342  
                       

Total Fixed Charges and Preferred Equity Dividends

  $ 75,605   $ 129,949   $ 56,099   $ 46,395   $ 50,285  
                       
                       

Earnings Computation

                               

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

  $ (46,390 ) $ (138,093 ) $ (16,454 ) $ 12,209   $ 20,576  

Plus

                               

Fixed charges

    75,605     129,949     56,099     46,395     50,285  

Minus

                               

Interest capitalized

    441     91     137     192     427  
                       

Total Earnings

  $ 28,774   $ (8,235 ) $ 39,508   $ 58,412   $ 70,434  
                       
                       

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

    0.38     N/A*     0.70     1.26     1.40  

*
Total earnings for this period was less than zero dollars. The deficiency of earnings to fixed charges for the year ended September 30, 2011 was $138.2 million.

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



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