EX-7.1 2 ex71.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement Regarding Computation of Ratio of Earnings to Fixed Charges
 
EXHIBIIT 7.1
 
 
 
FIXED CHARGE COVERAGE RATIO
 
   
Year ended April 30
  
   
2005
  
2004 (i)
  
2003 (i)
  
2002
  
2001
  
Earnings (ii)
  
$
92.2
  
$
45.7
  
$
79.4
  
$
55.5
  
$
28.3
  
                                 
Fixed charges
                                
Interest expense
    
35.9
   
22.6
   
33.8
   
47.9
   
56.6
 
Portion of rent expense representative of interest factor
    
20.2
   
17.2
   
18.6
   
17.7
   
19.2
 
Earnings as adjusted
  
$
148.3
  
$
85.5
  
$
131.8
  
$
121.1
  
$
104.1
  
                                 
Fixed charges
                                
Interest expense
  
$
35.9
  
$
22.6
  
$
33.8
  
$
47.9
  
$
56.6
  
Portion of rent expense representative of interest factor
    
20.2
   
17.2
   
18.6
   
17.7
   
19.2
 
Fixed charges, as adjusted
  
$
56.1
  
$
39.8
  
$
52.4
  
$
65.6
  
$
75.8
  
Fixed charge coverage ratio
    
2.6
    
2.1x
    
2.5x
    
1.8x
    
1.4x
  
 
(i)
Reclassified - See Note 4 to our audited consolidated financial statements included elsewhere in this Annual Report.
(ii)
For the purpose of this calculation, earnings is defined as earnings from continuing operations before income taxes and undistributed earnings from equity investees.
 
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