EX-12.1 5 a2193645zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

 

RATIO OF EARNINGS TO FIXED CHARGES

 

The following table sets forth our ratio of earnings to fixed charges for the periods indicated:

 

 

 

Fiscal Year Ended June 30,

 

Nine
Months
Ended
March 31,

 

 

 

2004

 

2005

 

2006

 

2007

 

2008

 

2009

 

 

 

(dollars in thousands)

 

Interest expense, including amortization of debt issuance costs

 

$

17,644

 

$

25,149

 

$

35,489

 

$

42,225

 

$

44,279

 

$

30,782

 

Capitalized interest

 

225

 

378

 

559

 

516

 

609

 

913

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

$

17,869

 

$

25,527

 

$

36,048

 

$

42,741

 

$

44,888

 

$

31,695

 

Income before taxes and extraordinary items

 

122,572

 

80,169

 

144,855

 

104,912

 

137,234

 

11,325

 

Amortization of capitalized interest

 

276

 

292

 

334

 

375

 

389

 

342

 

Distributed income of equity investees

 

0

 

1,103

 

1,554

 

1,440

 

1,435

 

3,041

 

Less: capitalized interest

 

225

 

378

 

559

 

516

 

609

 

913

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted earnings

 

$

140,492

 

$

106,713

 

$

182,232

 

$

148,952

 

$

183,337

 

$

45,490

 

Ratio

 

7.86

 

4.18

 

5.06

 

3.48

 

4.08

 

1.44

 

 

For purposes of calculating our ratio of earnings to fixed charges, earnings consist of earnings from continuing operations before income taxes and extraordinary items, adjusted for the portion of fixed charges deducted from the earnings, plus amortization of capitalized interest.  Fixed charges consist of interest on all indebtedness, including capitalized interest, and amortization of debt issuances costs.