EX-12 5 ex12.htm STMT OF COMPUTATION OF RATIO OF EARNINGS ex12.htm
EXHIBIT 12
 

 
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)
  
                               
                               
   
Year ended September 30,
  
   
2011
    
2010
    
2009
    
2008
    
2007
  
Earnings:
                              
                               
Pre-tax income excluding noncontrolling interests
   $ 461,247     $ 361,908     $ 248,774     $ 386,854     $ 392,224  
Fixed charges
     84,557       81,250       75,369       409,300       514,543  
Less:  Preferred stock dividends
     -       -       -       -       -  
                                         
Earnings
   $ 545,804     $ 443,158     $ 324,143     $ 796,154     $ 906,767  
                                         
Fixed charges:
                                        
                                         
Interest expense
   $ 65,351     $ 62,564     $ 56,921     $ 392,229     $ 499,664  
Estimated interest portion within rental expense
     18,727       18,399       18,416       17,071       14,879  
Amortization of debt issuance cost
     479       287       32       -       -  
Preferred stock dividends
     -       -       -       -       -  
                                         
Total fixed charges
   $ 84,557     $ 81,250     $ 75,369     $ 409,300     $ 514,543  
                                         
Ratio of earnings to fixed charges and preferred stock dividends
                                        
    6.45       5.45       4.30       1.95       1.76  
                                         
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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