EX-12.1 2 ex12_1.htm COMPUTATION OF RATIO OF EARNINGS ex12_1.htm
EXHIBIT 12.1

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
 
(in thousands, except ratio of earnings to fixed charges and preferred stock dividends)
 
                                           
   
Six Months Ended
                               
   
March 31,
   
Year Ended September 30,
 
   
2011
   
2010
   
2010
   
2009
   
2008
   
2007
   
2006
 
                                           
Earnings:
                                         
Pre-tax income excluding noncontrolling interests
  $ 256,751     $ 159,044     $ 361,908     $ 248,774     $ 386,854     $ 392,224     $ 342,066  
Fixed charges
    40,566       40,509       81,250       75,369       409,300       514,543       309,759  
Less: preferred stock dividends
    -       -       -       -       -       -       -  
                                                         
Earnings
  $ 297,317     $ 199,553     $ 443,158     $ 324,143     $ 796,154     $ 906,767     $ 651,825  
                                                         
Fixed charges:
                                                       
Interest expense
  $ 31, 048     $ 31,107     $ 62,564     $ 56,921     $ 392,229     $ 499,664     $ 296,670  
Estimated interest portion within rental expense
    9,375       9,259       18,399       18,416       17,071       14,879       13,089  
Amortization of debt issuance cost
    143       143       287       32       -       -       -  
Preferred stock dividends
    -       -       -       -       -       -       -  
                                                         
Total fixed charges
  $ 40,566     $ 40,509     $ 81,250     $ 75,369     $ 409,300     $ 514,543     $ 309,759  
                                                         
Ratio of earnings to fixed charges and preferred stock dividends
    7.33       4.93       5.45       4.30       1.95       1.76       2.10  
                                                         

We calculated our ratio of earnings to fixed charges and preferred stock dividends by adding pre-tax income excluding noncontrolling interests, plus fixed charges minus preferred stock dividends and dividing that sum by our fixed charges. Our fixed charges for this ratio consist of interest expense, the portion of our rental expense deemed to represent interest (calculated as one third of rental expense), amortization of debt issuance costs and preferred stock dividends.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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