EX-12.1 5 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

Computation of Ratio of Earnings to Fixed Charges

(in thousands, except for ratios)

 

     Fiscal Year Ended January 31,  
     2008     2009     2010  

Loss before income taxes

   $ (48,046   $ (350,930   $ (31,727

Interest expense (i)

     47,535        32,515        28,446   

Amortization and write-off of debt issuance costs (ii)

     1,111        2,070        2,158   

Goodwill impairment and impairment of other intangibles

     —          326,677        6,828   

Portion of rentals deemed to be interest (iii)

     2,118        2,209        1,822   
                        

Income available for fixed charges

   $ 2,718      $ 12,541      $ 7,527   
                        

Fixed charges:

      

Interest expense (i)

   $ 47,535      $ 32,515      $ 28,446   

Amortization and write-off of debt issuance costs (ii)

     1,111        2,070        2,158   

Portion of rentals deemed to be interest (iii)

     2,118        2,209        1,822   
                        

Total fixed charges

   $ 50,764      $ 36,794      $ 32,426   
                        

Ratio of earnings to fixed charges

     0.1 x        0.3 x        0.2 x   

For purposes of computing the ratio of earnings to fixed charges, earnings consist of loss before income taxes and excluding goodwill impairment and impairment of other intangibles plus fixed charges. Fixed charges consist of (i) interest expense including gain on early extinguishment of debt, (ii) amortization and write-off of debt issuance costs, and (iii) that portion of rental expense we estimate to be representative of interest. Earnings would not have been sufficient to cover fixed charges by $48.0 million, $24.3 million and $24.9 million for the fiscal years ended January 31, 2008, 2009 and 2010, respectively.