EX-12 3 ex12.htm STATEMENT COMPUTATION OF RATIOS

Exhibit 12

Statement re computation of ratios

Three Months Ended

Fiscal Years Ended

4/31/2002

4/31/2001

2002

2001

2000

1999

1998

Income before income taxes

2,625 

2,220

10,751

10,116

9,083

7,323

5,719

Capitalized interest

(33)

(23)

(130)

(93)

(57)

(41)

(33)

Minority interest

(41)

(30)

(183)

(129)

(170)

(153)

(78)

Adjusted profit before tax

2,551

2,167

10,438

9,894

8,856 *

7,129

5,608

Fixed Charges

Debt interest

216 

284

1,052

1,095

756

529

555

Capital lease interest

65 

68

274

279

266

268

229

Capitalized interest

33

23

130

93

57

41

33

Interest component of rent

231 

185

834

714

458

523

477

Total fixed expense

545

560

2,290

2,181

1,537

1,361

1,294

Profit before taxes and fixed expenses

3,096 

2,727

12,728

12,075

10,393

8,490

6,902

Fixed charge coverage

5.68

4.87

5.56

5.54

6.76

6.24

5.33

* Does not include the cumulative effect of accounting change recorded by the Company in Fiscal 2000