EX-12.1 2 a06-6713_1ex12d1.htm STATEMENTS REGARDING COMPUTATION OF RATIOS

EXHIBIT 12.1

 

Ratio of Earnings to Fixed Charges

(unaudited)

 

 

 

Year Ended October 31,

 

Three Months
Ended
January 31,

 

(in thousands, except ratios)

 

2001

 

2002

 

2003

 

2004

 

2005

 

2006

 

Consolidated pretax earnings (loss) from continuing operations before minority interest

 

$

(270,355

)

$

(95,722

)

$

(54,597

)

$

75,518

 

$

466,016

 

$

13,158

 

Interest expense

 

—

 

—

 

—

 

992

 

3,000

 

750

 

Amortization of debt issuance costs

 

—

 

—

 

—

 

982

 

2,972

 

743

 

Interest portion of rental expense

 

10,500

 

8,700

 

7,200

 

6,440

 

6,990

 

1,410

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss)

 

$

(259,855

)

$

(87,022

)

$

(47,397

)

$

83,932

 

$

478,978

 

$

16,061

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

—

 

$

—

 

$

—

 

$

992

 

$

3,000

 

$

750

 

Amortization of debt issuance costs

 

—

 

—

 

—

 

982

 

2,972

 

743

 

Interest portion of rental expense

 

10,500

 

8,700

 

7,200

 

6,440

 

6,990

 

1,410

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

$

10,500

 

$

8,700

 

$

7,200

 

$

8,414

 

$

12,962

 

$

2,903

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

(a)

 

(a)

 

(a)

 

10.0

 

37.0

 

5.5

 

(a)                   Due to the loss in fiscal 2001, 2002, and 2003, the ratio of earnings to fixed charges was less than 1:1 in each of those periods. The Company would have had to generate additional earnings of $270.4 million, $95.7 million, and $54.6 million in fiscal 2001, 2002, and 2003, respectively, to achieve a ratio of 1:1.