EX-12.1 3 l92312aex12-1.txt EX-12.1 COMPUTATION OF EARNINGS Exhibit 12.1 FOR THE YEAR ENDED MAY 31
FOR THE SIX MONTHS ENDED NOVEMBER 30, 2001* 2001 2000 1999 1998 1997 ----- ---- ---- ---- ---- ---- Ratio of Earnings to Fixed Charges 4.25 2.33 2.19 4.75 4.37 4.58 Income Before Income Tax 92,524 101,487 71,761 159,597 149,556 135,728 Fixed Charges: Interest Expense 24,761 68,885 54,436 37,661 40,854 34,639 Amortized debt expense 293 617 321 197 348 325 Operating lease, estimated interest (one-third of net rental expense) 3,427 6,841 5,728 4,645 3,218 2,935 ------ ------ ------ ------ ------ ------ 28,481 76,343 60,485 42,503 44,420 37,899
*FAS 142 was adopted by the Company as of June 1, 2001. Had FAS 142 not been adopted, Income Before Income Tax would have been $81,501, resulting in a Ratio of Earnings to Fixed Charges of 3.86.