EX-12 2 j1614901exv12.htm EX-12 EX-12
 

Exhibit 12
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
                                         
    Years Ended July 31,  
    2001     2002     2003     2004     2005  
Earnings
                                        
Income before cumulative effect of change in accounting principle
   $ 34,206     $ 12,878     $ 12,392     $ 26,649     $ 57,173  
Income tax provision
     20,091       6,343       2,635       15,232       35,915  
 
                              
Earnings
     54,297       19,221       15,027       41,881       93,088  
 
                              
Fixed Charges
                                        
Interest expense
     22,195       16,255       27,985       38,098       32,198  
Portion of rental expense representative of interest factor
     2,082       3,030       3,034       3,264       3,429  
 
                              
Fixed charges
     24,277       19,285       31,019       41,362       35,627  
 
                              
Earnings before income tax provision and fixed charges
   $ 78,574     $ 38,506     $ 46,046     $ 83,243     $ 128,715  
 
                              
Ratio of earnings to fixed charges
     3.2x       2.0x       1.5x       2.0x       3.6x