EX-12.1 2 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12.1

 

Ratio of Earnings to Fixed Charges

(unaudited)

 

     Year Ended October 31,

  

Three Months

Ended

July 31,

2005


  

Nine Months

Ended

July 31,

2005


    (amounts in thousands, except ratios)    2000

   2001

    2002

    2003

    2004

     

Consolidated pretax earnings from continuing operations before minority interest

   $ 68,676    $ (270,355 )   $ (95,722 )   $ (54,597 )   $ 75,518    $ 10,570    $ 465,626

Interest expense

     —        —         —         —         992      750      2,250

Amortization of debt issuance costs

     —        —         —         —         982      743      2,229

Interest portion of rental expense

     10,200      10,500       8,700       7,200       6,440      1,676      5,161
    

  


 


 


 

  

  

Earnings

   $ 78,876    $ (259,855 )   $ (87,022 )   $ (47,397 )   $ 83,932    $ 13,739    $ 475,266
    

  


 


 


 

  

  

Interest expense

   $ —      $ —       $ —       $ —       $ 992    $ 750    $ 2,250

Amortization of debt issuance costs

     —        —         —         —         982      743      2,229

Interest portion of rental expense

     10,200      10,500       8,700       7,200       6,440      1,676      5,161
    

  


 


 


 

  

  

Fixed charges

   $ 10,200    $ 10,500     $ 8,700     $ 7,200     $ 8,414    $ 3,169    $ 9,640
    

  


 


 


 

  

  

Ratio of earnings to fixed charges

     7.7      (a)       (a)       (a)       10.0      4.3      49.3
    

  


 


 


 

  

  


(a) Due to the loss in fiscal 2001, 2002, and 2003, the ratio coverage was less than 1:1 in each of those periods. The Company would have had to generate additional earnings of $259.9 million, $87.0 million, and $47.4 million in fiscal 2001, 2002, and 2003, respectively, to achieve a coverage of 1:1.