EX-12.1 2 a11-6947_1ex12d1.htm EX-12.1

Exhibit 12.1

 

LAWSON SOFTWARE, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Quarter Ended

 

 

 

 

 

February 28,

 

Fiscal Years Ended May 31,

 

(In thousands, except ratios)

 

2011

 

2010

 

2009

 

2008

 

2007

 

2006

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense on indebtedness

 

$

4,121

 

$

16,238

 

$

15,625

 

$

15,976

 

$

5,031

 

$

53

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rent interest factor (1)

 

2,239

 

9,689

 

9,671

 

10,467

 

8,994

 

5,454

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

6,360

 

$

25,927

 

$

25,296

 

$

26,443

 

$

14,025

 

$

5,507

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before provision for income taxes

 

$

22,841

 

$

40,636

 

$

35,922

 

$

37,733

 

$

(7,434

)

$

27,667

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

6,360

 

25,927

 

25,296

 

26,443

 

14,025

 

5,507

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total earnings

 

$

29,201

 

$

66,563

 

$

61,218

 

$

64,176

 

$

6,591

 

$

33,174

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio

 

4.59

 

2.57

 

2.42

 

2.43

 

0.47

(2)

6.02

 

 

(1) Approximately 1/3 of rent expense is deemed representative of the interest factor.

 

(2) Our ratio of earnings to fixed charges was below a one-to-one coverage by $7.4 million due to our net loss generated in fiscal 2007.