Exhibit 12(a)
Computation of Ratio of Earnings to Fixed Charges |
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(dollars in thousands) |
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Fiscal Year Ended June 30, |
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2007 |
2006 |
2005 |
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Earnings: |
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Income before income taxes |
$ 109,726 |
$ 138,105 |
$ 129,420 |
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Unconsolidated affiliates' interests, net |
(201) |
1,226 |
1,067 |
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Amortization of capitalized interest |
21 |
24 |
25 |
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Interest expense and other related financing costs |
11,762 |
9,493 |
761 |
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Interest portion of rent expense (1) |
12,054 |
11,665 |
10,661 |
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Adjusted earnings |
$ 133,362 |
$ 160,513 |
$ 141,934 |
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Fixed Charges: |
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Interest expense and other related financing costs |
$ 11,762 |
$ 9,493 |
$ 761 |
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Interest portion of rent expense (1) |
12,054 |
11,665 |
10,661 |
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Total fixed charges |
$ 23,816 |
$ 21,158 |
$ 11,422 |
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Ratio of earnings to fixed charges |
5.60 |
7.59 |
12.43 |
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(1) One-third of rent expense is considered representative of the interest factor within rent expense. |