EX-12 2 a2162994zex-12.htm EX-12
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EXHIBIT 12


COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in 000's)

 
   
   
   
   
   
  Three Months Ended
 
 
  Fiscal Year Ended March 31,
 
 
  June 30,
2004

  June 30,
2005

 
 
  2001
  2002
  2003
  2004
  2005
 
Pre-tax income (loss) from continuing operations:   $ 88,332   $ 24,832   $ (39,509 ) $ 20,457   $ (35,838 ) $ (10,212 ) $ (4,079 )
Fixed charges:                                            
  Interest expense     94     3,383     8,041     13,961     13,184     2,908     4,118  
  Estimate of interest within rental expense     26,927     28,868     30,779     32,824     43,402     9,352     11,121  
   
 
 
 
 
 
 
 
Total fixed charges     27,021     32,251     38,820     46,785     56,586     12,260     15,239  
   
 
 
 
 
 
 
 
Earnings (loss)   $ 115,353   $ 57,083   $ (689 ) $ 67,242   $ 20,748   $ 2,048   $ 11,160  
   
 
 
 
 
 
 
 
Ratio of earnings to fixed charges     4.27x     1.77x         1.44x              
   
 
 
 
 
 
 
 
Dollar deficiency for ratios < 1:1     N/A     N/A   $ 78,329     N/A   $ 92,424   $ 22,472   $ 19,318  
Rental expense   $ 80,782   $ 86,603   $ 92,337   $ 98,473   $ 130,205   $ 28,055   $ 33,364  
   
 
 
 
 
 
 
 
One-third of rental expense   $ 26,927   $ 28,868   $ 30,779   $ 32,824   $ 43,402   $ 9,352   $ 11,121  



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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in 000's)