EX-12 2 a16-17203_1ex12.htm EX-12

EXHIBIT (12)

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Twelve

 

 

 

Months Ended

 

 

 

September 30, 2016

 

 

 

 

 

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

 

$

153,906,420

 

 

 

 

 

Fixed charges:

 

 

 

Interest on long-term debt

 

$

45,193,071

 

Interest on short-term debt

 

130,636

 

Other interest

 

1,110,856

 

Rental expense representative of an interest factor (Note B)

 

9,807,802

 

 

 

 

 

Total fixed charges

 

$

56,242,365

 

 

 

 

 

Ratio of earnings to fixed charges

 

2.74x

 

 

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).