EX-12.1 2 d555657dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

 

     Fiscal Years Ended June 30,  
     2013      2012     2011     2010      2009  
     ($ in millions)  

Earnings:

            

Add:

            

Earnings from continuing operations before income taxes

   $ 323.2       $ 200.9      $ 269.7      $ 342.1       $ 346.0   

Fixed charges

     28.0         28.4        25.7        24.1         26.8   

Amortization of capitalized interest

     —          —         —         —          —    

Distributed income from equity investees

     —          —         —         —          —    

Share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges

     —          —         —         —          —    

Less:

            

Interest capitalized

     —          —         —         —          —    

Preference security dividend requirements of consolidated subsidiaries

     —          —         —         —          —    

The minority interest in the pre-tax income/(loss) of subsidiaries that have not incurred fixed charges(2)

     0.1         (0.7     (0.2     1.0         2.5   
  

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

Total

   $ 351.1       $ 230.0      $ 295.6      $ 365.2       $ 370.3   
  

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

Fixed charges:

            

Interest expense

   $ 14.5       $ 14.0      $ 9.9      $ 9.8       $ 14.3   

Amortized premiums, discounts and capitalized expenses related to indebtedness

     —          —         —         —          —    

Estimate of the interest within rental expense(1)

     13.5         14.4        15.8        14.3         12.5   

Preference security dividend requirements of consolidated subsidiaries

     —          —         —         —          —    
  

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

Total

   $ 28.0       $ 28.4      $ 25.7      $ 24.1       $ 26.8   
  

 

 

    

 

 

   

 

 

   

 

 

    

 

 

 

Ratio of Earnings to Fixed Charges

     12.5         8.1        11.5        15.2         13.8   

 

(1) One-third of rental expense under operating leases is assumed to be the equivalent of interest.
(2) Represents the Company’s share of gains/(losses) from its joint venture with the Tokyo Stock Exchange.