EX-12.1 3 a18-9832_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Statement of Computation of Ratios of Earnings to Fixed Charges

 

The following table sets forth our ratio of earnings to fixed charges on a historical basis for the periods indicated (amounts in thousands, except ratio data).

 

 

 

Nine months
ended
March 31,

 

Fiscal Year Ended June 30,

 

 

 

2018

 

2017

 

2016

 

2015

 

2014

 

2013

 

Earnings

 

$

(133,315

)

$

118,866

 

$

(21,758

)

$

62,244

 

$

82,927

 

$

137,168

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

11,968

 

19,721

 

17,912

 

10,638

 

10,638

 

10,608

 

Amortization of debt issuance costs

 

1,912

 

2,133

 

2,038

 

1,851

 

1,735

 

1,650

 

Amortization of discount on convertible securities due 2019

 

9,288

 

11,692

 

10,947

 

10,250

 

9,597

 

9,015

 

Portion of rental expense representative of interest

 

37

 

70

 

86

 

101

 

49

 

64

 

Total Fixed Charges

 

$

23,205

 

$

33,616

 

$

30,983

 

$

22,840

 

$

22,019

 

$

21,337

 

Earnings plus fixed charges

 

$

(110,110

)

$

152,482

 

$

9,225

 

$

85,084

 

$

104,946

 

$

158,505

 

Ratio of earnings to fixed charges (unaudited)

 

N/A

 

4.54

 

N/A

 

3.73

 

4.77

 

7.43

 

Deficiency of earnings available to cover fixed charges

 

$

(133,315

)

N/A

 

$

(21,758

)

N/A

 

N/A

 

N/A

 

 

(1)                                 For the periods we had losses, we have provided the deficiency amount.  For purposes of calculating the ratio of earnings to fixed charges, “earnings” represents pre-tax income from continuing operations before fixed charges. “Fixed charges” means the sum of (i) interest expensed and capitalized, (ii) amortized debt issuance costs, and (iii) an estimate of the interest within rental expense.