EX-12.1 49 y55701ex12-1.txt COMPUTATION OF RATIO EARNINGS EXHIBIT 12.1 SUPPLEMENTAL SCHEDULE - CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (AMOUNTS IN THOUSANDS)
Year ended June 30, --------------------------------------------------- 1997 1998 1999 2000 ------------ ------------ ------------ ------------ RATIO OF EARNINGS TO FIXED CHARGES: Earnings: Pretax income from continuing operations $ 1,708 $ 943 $ 2,922 $ 8,320 Add: Fixed charges 10,197 12,501 20,673 23,219 Distributions received from unconsolidated partnerships (14) 123 656 450 Less - equity in income of unconsolidated partnerships (566) (707) (548) (817) ------------ ------------ ------------ ------------ Total earnings 11,325 12,860 23,703 31,172 ------------ ------------ ------------ ------------ Fixed Charges: Interest expense 4,066 6,827 14,500 18,696 Interest factor of rental expense (a) 6,131 5,674 6,173 4,523 ------------ ------------ ------------ ------------ Total fixed charges 10,197 12,501 20,673 23,219 ------------ ------------ ------------ ------------ Ratio of earnings to fixed charges 1.1 1.0 1.1 1.3 (a) COMPUTATION OF INTEREST FACTOR OF RENTAL EXPENSE: Operating rental expense (e) 18,396 17,023 18,522 13,569 Interest factor 33% 33% 33% 33% ------------ ------------ ------------ ------------ Total 6,131 5,674 6,173 4,523 ============ ============ ============ ============
Year ended June 30, Three months ended September 30, ------------------------- -------------------------------------- Pro Forma Pro Forma 2001 2001 2000 2001 2001 ------------ ------------ ------------ ------------ ------------ RATIO OF EARNINGS TO FIXED CHARGES: Earnings: Pretax income from continuing operations $ 16,425 $ 4,019 (1) $ 3,063 $ 7,384 $ 3,505 Add: Fixed charges 26,036 38,442 6,796 6,052 9,931 Distributions received from unconsolidated partnerships 970 970 - 334 334 Less - equity in income of unconsolidated partnerships (971) (971) - (328) (328) ------------ ------------ ------------ ------------ ------------ Total earnings 42,460 42,460 9,859 13,442 13,442 ------------ ------------ ------------ ------------ ------------ Fixed Charges: Interest expense 23,394 35,800 6,032 5,336 9,215 Interest factor of rental expense (a) 2,642 2,642 764 716 716 ------------ ------------ ------------ ------------ ------------ Total fixed charges 26,036 38,442 6,796 6,052 9,931 ------------ ------------ ------------ ------------ ------------ Ratio of earnings to fixed charges 1.6 1.1 1.5 2.2 1.4 (a) COMPUTATION OF INTEREST FACTOR OF RENTAL EXPENSE: Operating rental expense (e) 7,928 7,928 2,292 2,148 2,148 Interest factor 33% 33% 33% 33% 33% ------------ ------------ ------------ ------------ ------------ Total 2,642 2,642 764 716 716 ============ ============ ============ ============ ============
(1) pretax of 9,549, less adjustment for amort of 5,530