EX-12.1 7 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,  
     2009     2010     2011  

Loss before income taxes

   $ (350,930   $ (31,727   $ (21,993

Interest expense (i)

     32,515        28,446        24,876   

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

     2,070        2,158        1,857   

Goodwill impairment and adjustments and impairment of other intangibles

     326,677        6,828        1,433   

Portion of rentals deemed to be interest (iii)

     2,209        1,822        1,538   
                        

(Loss) income available for fixed charges

   $ 12,541      $ 7,527      $ 7,711   
                        

Fixed charges:

      

Interest expense (i)

   $ 32,515      $ 28,446      $ 24,876   

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

     2,070        2,158        1,857   

Portion of rentals deemed to be interest (iii)

     2,209        1,822        1,538   
                        

Total fixed charges

   $ 36,794      $ 32,426      $ 28,271   
                        

Ratio of earnings to fixed charges

     0.3 x        0.2 x        0.3 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 gains and losses 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 $24.3 million, $24.9 million and $20.6 million, for the fiscal years ended January 31, 2009, 2010 and 2011, respectively.