Exhibit 12(a)
Computation of Ratio Earnings to Fixed Charges
(dollars in thousands)
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Fiscal Year Ended June 30, |
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2008 |
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2007 |
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2006 |
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Earnings: |
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Income before income taxes |
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$ |
92,178 |
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$ |
109,726 |
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$ |
138,105 |
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Unconsolidated affiliates interests, net |
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(201 |
) |
1,226 |
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Amortization of capitalized interest |
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45 |
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21 |
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24 |
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Interest expense and other related financing costs |
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11,713 |
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11,762 |
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9,493 |
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Interest portion of rent expense (1) |
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13,659 |
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12,054 |
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11,665 |
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Adjusted earnings |
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$ |
117,595 |
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$ |
133,362 |
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$ |
160,513 |
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Fixed Charges: |
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Interest expense and other related financing costs |
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$ |
11,713 |
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$ |
11,762 |
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$ |
9,493 |
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Interest portion of rent expense (1) |
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13,659 |
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12,054 |
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11,665 |
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Total fixed charges |
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$ |
25,372 |
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$ |
23,816 |
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$ |
21,158 |
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Ratio of earnings to fixed charges |
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4.63 |
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5.60 |
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7.59 |
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(1) One-third of rent expense is considered representative of the interest factor within rent expense