EX-12.1 2 d185812dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS

The following table reflects the computation of the ratio of earnings to combined fixed charges and preference dividends for the periods presented (in thousands, except for ratios):

 

           Year Ended June 30,  
     9 months ended
March 31, 2016
    2015     2014      2013      2012      2011  

Computation of earnings:

               

Earnings before taxes

     218,791        266,044        276,535         178,210         137,345         136,134   

Add:

               

(Income) losses attributable to non-controlling interests

     (75     (79     51                           

Fixed charges (see below)

     54,461        54,620        27,934         16,982         15,564         8,452   
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 
     273,177        320,585        304,520         195,192         152,909         144,586   
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Computation of combined fixed charges and preference dividends:

               

Fixed charges:

               

Interest expense

     54,461        54,620        27,934         16,982         15,564         8,452   

Preference dividends

                                             
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Total combined fixed charges and preference dividends

     54,461        54,620        27,934         16,982         15,564         8,452   
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

Ratio of earnings to fixed charges (1)

     5.02        5.87        10.90         11.49         9.82         17.11   

Ratio of earnings to combined fixed charges and preference dividends (1) (2)

     5.02        5.87        10.90         11.49         9.82         17.11   

 

(1) For the purpose of these calculations, “earnings” is the amount resulting from adding together earnings before taxes, fixed charges, and losses attributable to non-controlling interests. “Fixed charges” includes interest expensed, capitalized and the amortization of capitalized expenses related to indebtedness.
(2) There were no preference shares outstanding for the indicated periods. Accordingly, the ratio of earnings to combined fixed charges and preference dividends was identical to the ratio of earnings to fixed charges for each period.