EX-12.1 5 ex12_1.htm EXHIBIT 12.1
EXHIBIT 12.1

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
  
Fiscal year ended March 31,
  
 
  
2009
    
2010
    
2011
    
2012
    
2013
  
 
  
(in millions)
  
Earnings:
  
   
   
   
   
 
(Loss) Income before income taxes
  
$
(58.1
)
  
$
(12.8
)
  
$
5.1
    
$
32.8
    
$
42.6
  
Fixed charges:
                                        
Interest expense from continuing operations
    
12.7
      
12.6
      
13.2
      
13.5
      
13.2
  
Interest expense from discontinued operations
    
0.2
      
-
      
-
      
-
      
-
  
Amortization of deferred financing and bond discount
    
0.5
      
0.6
      
0.3
      
0.7
      
0.6
  
Interest portion of rental expense
    
1.9
      
1.8
      
1.7
      
1.5
      
1.3
  
Total Earnings
  
$
(42.8
)
  
$
2.2
    
$
20.3
    
$
48.5
    
$
57.7
  
 
                                        
Fixed charges:
                                        
Interest expense from continuing operations
  
$
12.7
    
$
12.6
    
$
13.2
    
$
13.5
    
$
13.2
  
Interest expense from discontinued operations
    
0.2
      
-
      
-
      
-
      
-
  
Amortization of deferred financing and bond discount
    
0.5
      
0.6
      
0.3
      
0.7
      
0.6
  
Interest portion of rental expense
    
1.9
      
1.8
      
1.7
      
1.5
      
1.3
  
Total Fixed charges
  
$
15.3
    
$
15.0
    
$
15.2
    
$
15.7
    
$
15.1
  
 
                                        
Ratio of earnings to fixed charges
  
(a)
    
(a)
      
1.3
      
3.1
      
3.8
  

(a) For the years ended March 31, 2009 and 2010 earnings were inadequate to cover fixed charges by approximately $58.1 million and $12.8 million, respectively.