EX-12.2 8 dex122.htm RATIO OF EARNINGS TO FIXED CHARGES EXCLUDING CAPTIVE FINANCE SUBSIDIARIES Ratio of Earnings to Fixed Charges Excluding Captive Finance Subsidiaries

EXHIBIT 12.2

 

IKON OFFICE SOLUTIONS, INC.

RATIO OF EARNINGS TO FIXED CHARGES (EXCLUDING CAPTIVE FINANCE SUBSIDIARIES)

(dollars in thousands)

 

     Fiscal Year Ended September 30
  
     2003
    2002
    2001
     2000
     1999
  

Earnings

                                       

Income from continuing operations

    $ 17,932    $ 40,147    $ (79,276 )   $ (53,483 )   $ (51,437 )

Add:

                                       

Provision for income taxes

      14,703      12,296      (3,868 )     7,388       (7,378 )

Fixed charges

      81,299      90,108      109,202       104,211       103,085  
    
  
  
 
 

Earnings, as adjusted (A)

      113,934      142,551      26,058       58,116       44,270  
    
  
  
 
 

Fixed charges

                                       

Other interest expense including interest on capital leases

      49,033      54,389      69,373       69,821       71,225  

Estimated interest component of rental expense

      32,266      35,719      39,829       34,390       31,860  
    
  
  
 
 

Total fixed charges (B)

    $ 81,299    $ 90,108    $ 109,202     $ 104,211     $ 103,085  
    
  
  
 
 

Ratio of earnings to fixed charges (A) divided by (B)

      1.4      1.6      0.2       0.6       0.4