EX-12 3 l91453aex12.txt EXHIBIT 12 EXHIBIT 12 RATIO OF EARNINGS TO FIXED CHARGES THOUSANDS OF DOLLARS
FISCAL YEAR ENDED FEBRUARY 28 OR 29, ------------------------------------ 1997 1998 1999 2000 2001 ---- ---- ---- ---- ---- Fixed charges: Interest expense $ 30,749 $ 22,992 $ 29,326 $ 34,255 $ 55,387 Interest component of rent expense 17,268 17,445 18,049 18,746 22,956 --------- --------- --------- --------- --------- Total fixed charges $ 48,017 $ 40,437 $ 47,375 $ 53,001 $ 78,343 ========================================================= Earnings (loss) before income taxes and cumulative effect of accounting change $254,330 $292,437 $281,597 $140,624 $ 98,633 ========================================================= Earnings (loss) + fixed charges $302,347 $332,874 $328,972 $193,625 $176,976 Ratio of earnings (loss) to fixed charges 6.3 8.2 6.9 3.7 2.3 (earnings (loss) + fixed charges) / fixed charges
SIX MONTHS ENDED AUGUST 31, -------------------------- 2000 2001 ---- ---- Fixed charges: Interest expense $ 24,583 $ 35,525 Interest component of rent expense 11,478 10,342 -------- ---------- Total fixed charges $ 36,061 $ 45,867 ====================== Earnings (loss) before income taxes and cumulative effect of accounting change $ 4,702 $(185,894) ====================== Earnings (loss) + fixed charges $ 40,763 $(140,027) Ratio of earnings (loss) to fixed charges 1.1 - (earnings (loss) + fixed charges) / fixed charges