EX-12 5 exhibit_12.htm RATIO OF EARNINGS TO FIXED CHARGES
EXHIBIT 12
 
Ratio of Earnings to Fixed Charges
 
 
   
  
Six Months Ended
    
Twelve Months Ended August 31,
 
   
  
February 28, 2014
    
2013
    
2012
    
2011
    
2010
    
2009
  
Income before income tax provision
  
$
2,287
    
$
3,895
    
$
3,376
    
$
4,294
    
$
3,373
    
$
3,164
  
Add:
                                                
Noncontrolling interests
    
23
      
5
      
-
      
-
      
-
      
-
  
Fixed charges
    
686
      
1,383
      
1,260
      
1,212
      
1,100
      
996
  
Amortization of capitalized interest
    
3
      
7
      
6
      
5
      
-
      
-
  
Less: Capitalized interest
    
(3
)
    
(7
)
    
(9
)
    
(10
)
    
(12
)
    
(16
)
Earnings as defined
  
$
2,996
    
$
5,283
    
$
4,633
    
$
5,501
    
$
4,461
    
$
4,144
  
 
                                                
Interest expense, net of capitalized interest
  
$
87
    
$
193
    
$
94
    
$
77
    
$
90
    
$
91
  
Capitalized interest
    
3
      
7
      
9
      
10
      
12
      
16
  
Portions of rentals representative of the interest factor
    
596
      
1,183
      
1,157
      
1,125
      
998
      
889
  
Fixed charges as defined
  
$
686
    
$
1,383
    
$
1,260
    
$
1,212
    
$
1,100
    
$
996
  
 
                                                
Ratio of earnings to fixed charges
    
4.37
      
3.82
      
3.68
      
4.54
      
4.06
      
4.16