EX-12.1 6 f15220exv12w1.htm EXHIBIT 12.1 exv12w1
 

EXHIBIT 12.1
Ratio of Earnings to Fixed Charges
(unaudited)
                                         
    Year Ended October 31,  
(amounts in thousands, except ratios)   2001     2002     2003     2004     2005  
Consolidated pretax earnings from continuing operations before minority interest
  $ (270,355 )   $ (95,722 )   $ (54,597 )   $ 75,518     $ 466,016  
Interest expense
                      992       3,000  
Amortization of debt issuance costs
                      982       2,972  
Interest portion of rental expense
    10,500       8,700       7,200       6,440       6,990  
 
                             
Earnings
  $ (259,855 )   $ (87,022 )   $ (47,397 )   $ 83,932     $ 478,978  
 
                             
Interest expense
  $     $     $     $ 992     $ 3,000  
Amortization of debt issuance costs
                      982       2,972  
Interest portion of rental expense
    10,500       8,700       7,200       6,440       6,990  
 
                             
Fixed charges
  $ 10,500     $ 8,700     $ 7,200     $ 8,414     $ 12,962  
 
                             
Ratio of earnings to fixed charges
    (a)       (a)       (a)       10.0       37.0  
 
                             
 
(a)   Due to the loss in fiscal 2001, 2002, and 2003, the ratio coverage was less than 1:1 in each of those periods. The Company would have had to generate additional earnings of $270.4 million, $95.7 million, and $54.6 million in fiscal 2001, 2002, and 2003, respectively, to achieve a coverage of 1:1.