EX-12 2 a07-25539_1ex12.htm EX-12

EXHIBIT (12)

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Twelve
Months Ended
September 30,
2007

 

 

 

 

 

Income from continuing operations before provision for income taxes and fixed charges (Note A)

 

$

99,979,522

 

 

 

 

 

Fixed charges:

 

 

 

Interest on long-term debt

 

$

29,940,899

 

Interest on short-term debt

 

2,750,336

 

Interest on note payable to securitization trust

 

4,250,000

 

Other interest

 

1,035,376

 

Rental expense representative of an interest factor (Note B)

 

153,887

 

 

 

 

 

Total fixed charges

 

$

38,130,498

 

 

 

 

 

Ratio of earnings to fixed charges

 

2.62

x

 

NOTE A:    For the purpose of determining earnings in the calculation of the ratio, net income from continuing operations has been increased by the provision for income taxes, non-operating income taxes, minority interest and by the sum of fixed charges as shown above.

 

NOTE B:    One-third of rental expense (which approximates the interest factor).