EX-12 4 p14124exv12.htm EX-12 exv12
Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
                                                         
    Fiscal Year Ended     Six Months Ended     Years Ended  
    June 30,     December 31,     December 31,  
    2004     2005     2004     2005     2006     2007     2008  
EARNINGS:
                                                       
Income (loss) before income tax expense
  $ 57,057     $ 89,425     $ 29,944     $ 81,617     $ (72,722 )   $ 118,980     $ 42,406  
Add: Fixed charges
    12,310       12,092       5,951       6,084       12,133       11,839       9,546  
 
                                         
Earnings as defined
  $ 69,367     $ 101,517     $ 35,895     $ 87,701     $ (60,589 )   $ 130,819     $ 51,952  
 
                                         
 
                                                       
FIXED CHARGES:
                                                       
Interest expense
  $ 8,663     $ 8,488     $ 4,244     $ 4,253     $ 8,488     $ 8,495     $ 6,008  
Amortization of deferred financing fees
    2,145       2,152       1,080       1,080       2,152       1,523       666  
 
                                         
Interest expense as reported
    10,808       10,640       5,324       5,333       10,640       10,018       6,674  
Portion of rent expense as interest
    1,502       1,452       627       751       1,493       1,821       2,872  
 
                                         
Fixed charges as defined
  $ 12,310     $ 12,092     $ 5,951     $ 6,084     $ 12,133     $ 11,839     $ 9,546  
 
                                         
 
                                                       
Ratio of earnings to fixed charges
    5.6x       8.4x       6.0x       14.4x       (5.0)x       11.1x       5.4x  
     For purposes of computing the ratios of earnings to fixed charges, earnings represent pretax income from continuing operations plus fixed charges. Fixed charges represent interest expense and the portion of rents representative of interest related to continuing operations.