EX-12.1 5 d400482dex121.htm RATIOS OF EARINGS TO FIXED CHARGES Ratios of earings to fixed charges

Exhibit 12.1

Ratio of Earnings to Fixed Charges

(in thousands, except ratios)

 

     For the
Nine
Months
Ended

June 30,
2012
       
      
      
       For the Fiscal Year Ended September 30,  
       2011     2010     2009     2008     2007  

Earnings:

            

Pretax income (loss) from continuing operations

   $ 46,042      $ (9,834   $ (19,947   $ (26,594   $ (44,882   $ 9,824   

Less – noncontrolling interests

     —          —          (8     (1,549     (6,482     1,612   

Less – equity in (earnings) losses of affiliates

     (501     (10,377     (4,870     (1,279     15,656        (13,960

Add – cash distributions received from equity investments

     2,741        4,522        5,104        6,128        15,647        16,212   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
     48,282        (15,689     (19,721     (23,294     (20,061     13,688   

Fixed charges

     4,422        15,643        13,386        20,520        47,581        33,782   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 52,704      $ (46   $ (6,335   $ (2,774   $ 27,520      $ 47,470   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges:

            

Interest expense

   $ 4,197      $ 15,343      $ 13,086      $ 20,199      $ 47,266      $ 33,566   

Estimated interest portion of rent expense (2)

     225        300        300        321        315        216   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 4,422      $ 15,643      $ 13,386      $ 20,520      $ 47,581      $ 33,782   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     11.9        (1 )      (1 )      (1 )      (1 )      1.4   

 

(1) Earnings for fiscal 2011, 2010, 2009 and 2008 were inadequate to cover fixed charges. The coverage deficiencies for those periods were $15.7 million, $19.7 million, $23.2 million and $20.0 million, respectively.
(2) Estimated to be 8% of rent expense.