EX-12.1 5 exhibit121s3.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

Earnings to Fixed Charges Ratio

 
Year Ended March 31,
 
Three Months Ended
 
2016
2015
2014
2013
2012
 
June 30, 2016
June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
   (Loss) Income before taxes
         31.6
         36.0
         42.7
         42.6
         32.8
 
          9.5
         10.5
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
   Interest Expense from continuing operations
          7.3
         11.6
         12.6
         13.2
         13.5
 
          2.4
          1.0
   Amortization of deferred financing and bond discount
          0.6
          0.8
          0.9
          0.6
          0.7
 
          0.2
          0.1
   Interest portion of rental exepense
          1.7
          1.2
          1.3
          1.3
          1.5
 
          0.4
          0.4
 
 
 
 
 
 
 
 
 
Total Earnings
         41.3
         49.6
         57.5
         57.7
         48.5
 
         12.5
         12.0
 
 
 
 
 
 
 
 
 
Fixed Chrages:
 
 
 
 
 
 
 
 
   Interest Expense from continuing operations
          7.3
         11.6
         12.6
         13.2
         13.5
 
          2.4
          1.0
   Amortization of dererred financing
          0.6
          0.8
          0.9
          0.6
          0.7
 
          0.2
          0.1
   Interest portion of rental exepense
          1.7
          1.2
          1.3
          1.3
          1.5
 
          0.4
          0.4
 
 
 
 
 
 
 
 
 
Total Fixed Charges
          9.7
         13.6
         14.8
         15.1
         15.7
 
          3.0
          1.5
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
          4.3
          3.6
          3.9
          3.8
          3.1
 
          4.2
          8.0

For purposes of calculating the ratio of earnings to fixed charges, earnings represents income (loss) from continuing operations before income taxes plus fixed charges. Fixed charges include interest expense, including amortization of deferred financing costs, debt extinguishment costs, capitalized interest, and the portion of operating rental expense which management believes is representative of the interest component of rent expense