EX-12 2 a16-7953_1ex12.htm EX-12

Exhibit 12

 

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended

 

 

 

Year Ended September 30,

 

March 31,

 

(dollars in thousands)

 

2011

 

2012**

 

2013

 

2014

 

2015

 

2016

 

Fixed Charges Computation

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expensed and capitalized (1)

 

$

106,557

 

$

38,809

 

$

37,100

 

$

44,768

 

$

58,681

 

$

15,498

 

Amortized premiums, discounts, and capitalized expenses related to indebtedness

 

20,069

 

14,184

 

5,841

 

2,175

 

6,179

 

1,184

 

Reasonable approximation of interest within rental expense

 

3,323

 

3,106

 

3,454

 

3,342

 

3,437

 

1,756

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Charges and Preferred Equity Dividends

 

$

129,949

 

$

56,099

 

$

46,395

 

$

50,285

 

$

68,297

 

$

18,438

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings Computation

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

(138,093

)

$

(16,454

)

$

12,209

 

$

20,576

 

$

37,932

 

$

20,675

 

Plus

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

129,949

 

56,099

 

46,395

 

50,285

 

68,297

 

18,438

 

Minus

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest capitalized

 

91

 

137

 

192

 

427

 

585

 

409

 

Total Earnings

 

$

(8,235

)

$

39,508

 

$

58,412

 

$

70,434

 

$

105,644

 

$

38,704

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 

N/A

*

0.70

 

1.26

 

1.40

 

1.55

 

2.10

 

 

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

 

**               The deficiency of earnings to fixed charges for the year ended September 30, 2012 was $16.6 million.

 

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