EX-12 4 j1821501exv12.htm EX-12 EX-12
 

Exhibit 12
RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of earnings to fixed charges for the periods indicated:
                                         
    Fiscal     Fiscal     Fiscal     Fiscal     Fiscal  
    2005     2004     2003     2002     2001  
     
Earnings
                                       
Income from continuing operations before taxes
  $ 121,634     $ 114,841     $ 87,346     $ 63,562     $ 38,735  
Fixed charges
    77,750       55,512       33,858       30,914       30,014  
     
Total earnings
  $ 199,384     $ 170,353     $ 121,204     $ 94,476     $ 68,749  
     
 
                                       
Fixed Charges
                                       
Interest expense, net
  $ 12,959     $ 8,009     $ 1,831     $ 2,864     $ 6,241  
 
                                       
Portion of rent expense representative of interest
    64,791       47,503       32,027       28,050       23,773  
     
Total fixed charges
  $ 77,750     $ 55,512     $ 33,858     $ 30,914     $ 30,014  
     
 
                                       
Ratio of earnings to fixed charges
    2.56       3.07       3.58       3.06       2.29  
     
For purposes of calculating the ratios,
(1) earnings include income from continuing operations before income taxes, fixed charges and a reduction for preference dividend to earnings; and
(2) fixed charges are interest expense incurred, amortization of debt expense and discount or premium related to any indebtedness, the interest component of rent and preference dividend to earnings.
The ratio of earnings to fixed charges is calculated as follows:
(Earnings) + (Fixed Charges)
(Fixed Charges)

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