EX-12.1 4 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

EXHIBIT 12.1

 

IKON OFFICE SOLUTIONS, INC.

RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

    Fiscal Year Ended September 30
    2004
   2003
   2002
   2001
   2000

Earnings

                              

Income from continuing operations

   $ 91,554   $ 116,017   $ 150,334   $ 14,005   $ 25,960

Add:

                              

Provision for income taxes

     32,432     70,356     88,866     53,791     55,873

Fixed charges

     168,619     230,516     249,177     287,383     272,439
   
 
 
 
 

Earnings, as adjusted (A)

     292,605     416,889     488,377     355,179     354,272
   
 
 
 
 

Fixed charges

                              

Other interest expense including interest on capital leases

     137,474     197,105     212,280     246,892     237,521

Estimated interest component of rental expense

     31,145     33,411     36,897     40,491     34,918
   
 
 
 
 

Total fixed charges (B)

   $ 168,619   $ 230,516   $ 249,177   $ 287,383   $ 272,439
   
 
 
 
 

Ratio of earnings to fixed charges (A) divided by (B)

     1.7     1.8     2.0     1.2     1.3