EX-12 2 a14-13970_1ex12.htm EX-12

Exhibit 12

 

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine

 

 

 

 

 

 

 

 

 

 

 

 

 

Months Ended

 

 

 

Year Ended September 30,

 

June 30,

 

(dollars in thousands)

 

2009

 

2010

 

2011

 

2012

 

2013

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges Computation

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expensed and capitalized (1)

 

$

33,961

 

$

55,908

 

$

106,557

 

$

38,809

 

$

37,100

 

$

33,140

 

Amortized premiums, discounts, and capitalized expenses related to indebtedness

 

13,459

 

16,027

 

20,069

 

14,184

 

5,841

 

1,699

 

Reasonable approximation of interest within rental expense

 

3,377

 

3,670

 

3,323

 

3,106

 

3,454

 

2,483

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Charges and Preferred Equity Dividends

 

$

50,797

 

$

75,605

 

$

129,949

 

$

56,099

 

$

46,395

 

$

37,322

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings Computation

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

(491,730

)

$

(46,390

)

$

(138,093

)

$

(16,454

)

$

12,209

 

$

(381

)

Plus

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

50,797

 

75,605

 

129,949

 

56,099

 

46,395

 

37,322

 

Minus

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest capitalized

 

1,396

 

441

 

91

 

137

 

192

 

284

 

Total Earnings

 

$

(442,329

)

$

28,774

 

$

(8,235

)

$

39,508

 

$

58,412

 

$

36,657

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 

N/A

 *

0.38

 

N/A

 *

0.70

 

1.26

 

0.98

 

 


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