EX-12.1 3 ex-12_1.txt EXHIBIT 12.1 EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN MILLIONS, EXCEPT RATIO INFORMATION)
FOR THE YEAR ENDED MAY 31, ---------------------------------------------------------------- HISTORICAL PRO FORMA ---------------------------------------------------- --------- 1996 1997 1998 1999 2000 2000 -------- -------- -------- -------- -------- --------- Income (loss) before income taxes and extraordinary item............................. $24.4 $(15.9) $(15.4) $(12.5) $(1.0) $ 3.1 ----- ------ ------ ------ ----- ----- Interest expense................................. 27.9 33.6 35.0 33.0 33.9 30.6 Interest portion of rentals...................... 0.8 2.8 3.1 2.9 2.6 2.6 Amortization of deferred financing fees.......... 2.5 3.0 4.8 7.0 2.7 2.0 ----- ------ ------ ------ ----- ----- Total fixed charges.............................. $31.2 $ 39.4 $ 42.9 $ 42.9 $39.2 $35.2 ----- ------ ------ ------ ----- ----- Earnings available for fixed charges............. $55.6 $ 23.5 $ 27.5 $ 30.4 $38.2 $38.3 ===== ====== ====== ====== ===== ===== Ratio of earnings to fixed charges............... 1.8 0.6 0.6 0.7 1.0 1.1 ===== ====== ====== ====== ===== ===== Excess (deficiency) to cover fixed charges....... $24.4 $(15.9) $(15.4) $(12.5) $(1.0) $ 3.1 ===== ====== ====== ====== ===== =====