EX-12 3 w91834a1exv12.txt CALCULATION OF RATIO OF EARNINGS . . . EXHIBIT 12 CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS)
THREE MONTHS ENDED YEARS ENDED JULY 31, OCTOBER 31, --------------------------------------------------------------- ------------------- 1999 2000 2001 2002 2003 2003 ---------- ---------- ---------- ---------- ---------- ------------------- EARNINGS Income before cumulative effect of change in accounting principle .... $ 61,271 $ 60,507 $ 34,206 $ 12,878 $ 14,175 $ 277 Income tax provision ...... 29,745 35,536 20,091 6,343 3,724 149 ---------- ---------- ---------- ---------- ---------- ------- Earnings ................ 91,016 96,043 54,297 19,221 17,899 426 ---------- ---------- ---------- ---------- ---------- ------- FIXED CHARGES Interest expense .......... 1,772 21,169 22,195 16,255 27,985 9,876 Portion of rental expense representative of interest factor ................... 705 1,113 2,082 3,030 3,034 808 ---------- ---------- ---------- ---------- ---------- ------- Fixed charges ......... 2,477 22,282 24,277 19,285 31,019 10,684 ---------- ---------- ---------- ---------- ---------- ------- CAPITALIZED INTEREST ........ -- (580) -- -- -- -- ---------- ---------- ---------- ---------- ---------- ------- EARNINGS BEFORE INCOME TAX PROVISION AND FIXED CHARGES $ 93,493 $ 117,745 $ 78,574 $ 38,506 $ 48,918 $11,110 ========== ========== ========== ========== ========== ======= RATIO OF EARNINGS TO FIXED CHARGES ................... 37.7x 5.3x 3.2x 2.0x 1.6x 1.0x ========== ========== ========== ========== ========== =======