EX-12.1 120 d245302dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

6922767 Holding S.à r.l.

Ratio of Earnings to Fixed Charges

(Dollars in thousands)

 

     Successor     Predecessor  
     As at and for the
six months ended
October 31,		     As at and for the
year ended
April 30,		     Period from
September 16, 2008
to April 30,		     Period from
May 1, 2008 to
September 15,		     As at and for the
year ended
April 30,		  
     2011     2010     2011     2010     2009     2008     2008     2007  

Fixed Charges:

                 

Interest, including amortization of deferred financing charges, discounts and other charges

    $ 66,517      $ 91,394      $ 153,389      $ 84,969      $ 46,416      $ 30,095      $ 63,406      $ 50,443   

Interest portion of rental payments

      38,300        38,877        77,273        70,483        48,959        28,772        71,277        53,782   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 104,817      $ 130,271      $ 230,662      $ 155,452      $ 95,375      $ 58,867      $ 134,683      $ 104,225   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Loss from continuing operations before income taxes and earnings (loss) from equity accounted investees, plus distributed income from equity investees less capitalized interest

    $ (13,721 )    $ (45,026 )    $ (97,142 )    $ (65,930 )    $ (714,452 )    $ (61,125 )    $ (4,576 )    $ (40,611 ) 

Plus: fixed charges (calculated above)

      104,817        130,271        230,662        155,452        95,375        58,867        134,683        104,225   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings available to cover fixed charges

    $ 91,096      $ 85,245      $ 133,520      $ 89,522      $ (619,077 )    $ (2,258 )    $ 130,107      $ 63,614   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      —   (1)      —   (2)      —   (3)      —   (4)      —   (5)      —   (6)      —   (7)      —   (8) 

 

(1) Earnings were insufficient to cover fixed charges by $13.7 million for the six months ended October 31, 2011.
(2) Earnings were insufficient to cover fixed charges by $45.0 million for the six months ended October 31, 2010.
(3) Earnings were insufficient to cover fixed charges by $97.1 million for the year ended April 30, 2011.
(4) Earnings were insufficient to cover fixed charges by $65.9 million for the year ended April 30, 2010.
(5) Earnings were insufficient to cover fixed charges by $714.5 million for the period from September 16, 2008 to April 30, 2009.
(6) Earnings were insufficient to cover fixed charges by $61.1 million for the period from May 1, 2008 to September 15, 2008.
(7) Earnings were insufficient to cover fixed charges by $4.6 million for the year ended April 30, 2008.
(8) Earnings were insufficient to cover fixed charges by $40.6 million for the year ended April 30, 2007.