EX-12 6 ex12-1.htm EXHIBIT 12.1 Prepared and filed by St Ives Burrups
Exhibit 12.1
 
($ in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Six Months
Ended March 31,
 
 
 
For the Years Ended September 30,
 
 
 
 

 

 
 
 
2000
 
2001
 
2002
 
2003
 
2004
 
2004
 
2005
 
 
 


 


 


 


 


 


 


 
Income from continuing operations before income taxes, net income (loss) of unconsolidated affiliates and minority interests
 
$
(872,832
)
$
154,400
 
$
69,371
 
$
43,587
 
$
52,178
 
$
21,389
 
$
36,969
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
 
214,040
 
 
102,298
 
 
16,526
 
 
17,014
 
 
26,985
 
 
13,349
 
 
12,893
 
Interest portion of rent expense (1)
 
 
10,274
 
 
9,141
 
 
8,748
 
 
9,307
 
 
9,479
 
 
4,706
 
 
4,527
 
Amortized finance fees
 
 
6,000
 
 
2,000
 
 
2,000
 
 
2,000
 
 
1,394
 
 
791
 
 
702
 
 
 


 


 


 


 


 


 


 
Fixed charges
 
 
230,314
 
 
113,439
 
 
27,274
 
 
28,321
 
 
37,858
 
 
18,846
 
 
18,122
 
 
 


 


 


 


 


 


 


 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes, net income (loss) of unconsolidated affiliates and minority interests plus fixed charges
 
$
(646,518
)
$
267,839
 
$
96,645
 
$
71,908
 
$
90,036
 
$
40,235
 
$
55,091
 
 
 


 


 


 


 


 


 


 
Ratio of earnings to fixed charges (2)
 
 
NM
 
 
2.36
x
 
3.54
x
 
2.54
x
 
2.38
x
 
2.13
x
 
3.04
x
 

(1)
The interest component of rent expense is estimated as one-third of our reported lease expense.
 
 
(2)
The ratio of earnings to fixed charges is computed by dividing fixed charges into income from continuing operations before income taxes, net income (loss) of unconsolidated affiliates and minority interests plus fixed charges.  Fixed charges include interest (expensed or capitalized), amortization of debt issuance costs and the estimated interest component of rent expense.  For the fiscal year ended September 30, 2000, our earnings were insufficient to cover fixed charges by $872.8 million.