Exhibit 12(a)

 

Computation of Ratio Earnings to Fixed Charges

(dollars in thousands)

 

 

 

Fiscal Year Ended June 30,

 

 

 

2010

 

2009

 

2008

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

Income (loss) before income taxes

 

$

(18,787

)

$

(81,180

)

$

92,178

 

Unconsolidated affiliates’ interests, net

 

 

 

 

Amortization of capitalized interest

 

61

 

46

 

45

 

Interest expense and other related financing costs

 

11,924

 

11,764

 

11,713

 

Interest portion of rent expense (1)

 

11,152

 

12,901

 

13,659

 

Adjusted earnings

 

$

4,350

 

$

(56,469

)

$

117,595

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

Interest expense and other related financing costs

 

$

11,924

 

$

11,764

 

$

11,713

 

Interest portion of rent expense (1)

 

11,152

 

12,901

 

13,659

 

Total fixed charges

 

$

23,076

 

$

24,665

 

$

25,372

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

0.19

 

(2.29

)

4.63

 

 


(1) One-third of rent expense is considered representative of the interest factor within rent expense