EX-7.1 6 ex71.htm RATIO OF EARNINGS TO FIXED CHARGES ex71.htm
EXHIBIT 7.1
 
FIXED CHARGE COVERAGE RATIO
 
   
Year ended April 30    
  
   
2007
    
2006 (i)
    
2005 (i)
    
2004
    
2003
  
Earnings (ii)
   $
59.7
     $
94.7
     $
69.1
     $
38.6
     $
62.0
  
Fixed charges
                                        
    Interest expense
    
66.5
      
59.2
      
36.2
      
23.5
      
34.9
  
    Portion of rent expense representative of interest factor
    
65.3
      
42.6
      
37.6
      
31.9
      
34.5
  
Earnings as adjusted
   $
191.5
     $
196.5
     $
142.9
     $
94.0
     $
131.4
  
Fixed charges
                                        
    Interest expense
   $
66.5
     $
59.2
     $
36.2
     $
23.5
     $
34.9
  
    Portion of rent expense representative of interest factor
    
65.3
      
42.6
      
37.6
      
31.9
      
34.5
  
Fixed charges, as adjusted
   $
131.8
     $
101.8
     $
73.8
     $
55.4
     $
69.4
  
Fixed charge coverage ratio
    
1.5x
      
1.9x
      
1.9x
      
1.7x
      
1.9x
  

 
(i)
Reclassified. See Note 2 to our fiscal 2007 audited consolidated financial statements included elsewhere in this Annual Report on Form 20-F.
(ii)    For the purpose of this calculation, earnings is defined as earnings from continuing operations before income taxes and undistributed earnings from equity investees.