EX-12 2 a2165448zex-12.htm EX-12
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EXHIBIT 12


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

 
   
   
   
   
   
  Six Months Ended
 
  Fiscal Year Ended March 31,
 
  September 30,
2004

  September 30,
2005

 
  2001
  2002
  2003
  2004
  2005
Pre-tax income (loss) from continuing operations:   $ 88,332   $ 24,832   $ (39,509 ) $ 20,457   $ (35,838 ) $ (13,239 ) $ 6,375
Fixed charges:                                          
  Interest expense     94     3,383     8,041     13,961     13,184     6,021     9,162
  Estimate of interest within rental expense     26,927     28,868     30,779     32,824     43,402     19,873     22,175
   
 
 
 
 
 
 
Total fixed charges     27,021     32,251     38,820     46,785     56,586     25,894     31,337
   
 
 
 
 
 
 
Earnings (loss)   $ 115,353   $ 57,083   $ (689 ) $ 67,242   $ 20,748   $ 12,655   $ 37,712
   
 
 
 
 
 
 
Ratio of earnings to fixed charges     4.27x     1.77x         1.44x             1.20x
   
 
 
 
 
 
 
Dollar deficiency for ratios < 1:1     N/A     N/A   $ 78,329     N/A   $ 92,424   $ 39,133     N/A
Rental expense   $ 80,782   $ 86,603   $ 92,337   $ 98,473   $ 130,205   $ 56,619   $ 66,524
   
 
 
 
 
 
 
One-third of rental expense   $ 26,927   $ 28,868   $ 30,779   $ 32,824   $ 43,402   $ 19,873   $ 22,175



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