EX-12 2 d224534dex12.htm COMPUTATION OF RATIO OF EARNINGS Computation of ratio of earnings

Exhibit 12

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 

(in thousands)    Year Ended September 30,  
     2007      2008     2009     2010     2011  

Fixed Charges Computation

           

Interest expensed and capitalized (1)

   $ 29,671       $ 23,205      $ 34,459      $ 56,344      $ 106,925   

Amortized premiums, discounts, and capitalized expenses related to indebtedness

     9,075         8,747        13,459        16,027        20,069   

Reasonable approximation of interest within rental expense

     3,440         3,499        3,919        4,177        3,777   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Charges and Preferred Equity Dividends

   $ 42,186       $ 35,451      $ 51,837      $ 76,548      $ 130,771   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Earnings Computation

           

Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees

   $ 55,479       $ (167,848   $ (518,269   $ (99,344   $ (138,093

Plus

           

Fixed charges

     42,186         35,451        51,837        76,548        130,771   

Minus

           

Interest capitalized

     784         894        1,396        441        91   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Total Earnings

   $ 96,881       $ (133,291   $ (467,828   $ (23,237   $ (7,413
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

     2.30         N/A     N/A     N/A     N/A

 

* Total earnings for these periods were less than zero dollars. The deficiency of earnings to fixed charges for the years ended September 30, 2008, 2009, 2010, and 2011 were $168.7 million, $519.7 million, $99.8 million, and $138.2 million respectively.
(1) Interest expense associated with unrecognized tax benefits is included in income tax expense, not with interest expense.