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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2014 |
2013 |
2012 |
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Earnings: |
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Income (loss) before income taxes |
$ | 62,402 | $ | 50,174 | $ | 41,239 | ||||||
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Unconsolidated affiliates' interests, net |
- | - | - | |||||||||
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Amortization of capitalized interest |
10 | 10 | 10 | |||||||||
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Interest expense and other related financing costs |
7,510 | 8,778 | 9,020 | |||||||||
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Interest portion of rent expense (1) |
9,628 | 9,991 | 10,335 | |||||||||
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Adjusted earnings |
$ | 79,550 | $ | 68,953 | $ | 60,604 | ||||||
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Fixed Charges: |
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Interest expense and other related financing costs |
$ | 7,510 | $ | 8,778 | $ | 9,020 | ||||||
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Interest portion of rent expense (1) |
9,628 | 9,991 | 10,335 | |||||||||
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Total fixed charges |
$ | 17,138 | $ | 18,769 | $ | 19,355 | ||||||
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Ratio of earnings to fixed charges |
4.64 | 3.67 | 3.13 | |||||||||
(1) One-third of rent expense is considered representative of the interest factor within rent expense