EX-12.1 10 dex121.htm STATEMENT REGARDING THE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement regarding the computation of ratio of earnings to fixed charges

EXHIBIT 12.1 

 

                                
     For the years ended February 28, 2003

   For the
six months
ended


     2003

   2002

    2001

   2000

   1999

   August 31,
2003


     (in thousands)

Pre-tax income (loss) from continuing operations before adjustment for minority interests and extraordinary items

   $ 52,573    $ (17,975 )   $ 37,259    $ 12,006    $ 26,953    $ 12,482
    

  


 

  

  

  

Fixed charges:

                                          

Interest expense

     30,576      34,297       46,461      41,444      42,852      8,715

Amortized debt issuance costs

     4,104      4,480       4,627      4,430      5,040      746

Rental expense—33%

     11,049      9,583       4,099      6,689      5,617      2,999
    

  


 

  

  

  

Total fixed charges

   $ 45,729    $ 48,360     $ 55,187    $ 52,563    $ 53,509    $ 12,460

Pre-tax income (loss) from continuing operations before adjustment for minority interests and extraordinary items plus fixed charges

   $ 98,302    $ 30,385     $ 92,446    $ 64,569    $ 80,462    $ 24,942
    

  


 

  

  

  

Ratio of earnings to fixed charges

     2.2      (a )     1.7      1.2      1.5      2.0

(a)   Due to the registrant’s loss in fiscal 2002, the ratio of coverage was less than 1:1. The registrant must generate additional earnings of $17,975 to achieve coverage of 1:1.

 

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