EX-12.1 2 d693461dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

 

     Fiscal Year Ended March 31,  
     2014     2013     2012     2011     2010  

Earnings (1):

          

Earnings before income taxes

     181,804        84,096        21,912        16,762        39,297   

Add: Fixed charges

     18,171        15,791        17,769        18,291        19,060   

Add: Amortization of capitalized interest and FIN 48 Interest

     1,177        945        (367     (932     3,277   

Add: Cash distributions from equity method investments

     37,750        28,500        23,250        24,500        29,750   

Subtract: Income from equity method investments

     (37,811     (32,507     (28,528     (24,233     (24,157
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Earnings

     201,091        96,825        34,036        34,388        67,227   

Fixed Charges (2):

          

Interest expense

     17,646        15,467        17,530        17,995        18,760   

Interest component of rent expense

     525        324        239        296        300   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Charges

     18,171        15,791        17,769        18,291        19,060   

Ratio of Earnings to Fixed Charges

     11.1x        6.1x        1.9x        1.9x        3.5x   

 

(1) Earnings represent earnings before income taxes and before income from equity method investments plus: (a) fixed charges; and (b) cash distributions from equity method investments.
(2) Fixed charges include: (a) interest expense, whether expensed or capitalized, less interest accrued for uncertain tax positions; and (b) the portion of operating rental expense which management believes is representative of the interest component of rent expense.