EX-12 2 a12-13248_1ex12.htm EX-12

EXHIBIT (12)

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Twelve

 

 

 

Months Ended

 

 

 

June 30, 2012

 

 

 

 

 

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

 

$

137,712,738

 

 

 

 

 

Fixed charges:

 

 

 

Interest on long-term debt

 

$

41,599,264

 

Interest on short-term debt

 

199,050

 

Other interest

 

1,074,781

 

Rental expense representative of an interest factor (Note B)

 

6,019,381

 

 

 

 

 

Total fixed charges

 

$

48,892,476

 

 

 

 

 

Ratio of earnings to fixed charges

 

2.82x

 

 


NOTE A:

 

For the purpose of determining earnings in the calculation of the ratio, net income has been increased by the provision for income taxes, non-operating income taxes, and by the sum of fixed charges as shown above.

 

 

 

NOTE B:

 

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