EX-12.1 2 d374114dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

    

Three Months

Ended June 30,

    Fiscal Year Ended March 31,  
     2013     2012     2011     2010     2009  

Earnings (1):

          

Earnings before income taxes

     19,914        21,912        16,762        39,297        62,183   

Add: Fixed charges

     3,729        17,769        18,291        18,480        24,714   

Add: Amortization of capitalized interest and FIN 48 Interest

     231        (367     (932     3,857        5,358   

Add: Cash distributions from equity method investments

     6,000        23,250        24,500        29,750        33,000   

Subtract: Income from equity method investments

     (6,468     (28,528     (24,233     (24,157     (32,426
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Earnings

     23,406        34,036        34,388        67,227        92,829   

Fixed Charges (2):

          

Interest expense

     3,669        17,530        17,995        18,180        24,433   

Interest component of rent expense

     60        239        296        300        281   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Charges

     3,729        17,769        18,291        18,480        24,714   

Ratio of Earnings to Fixed Charges

     6.3     1.9     1.9     3.6     3.8

 

(1) Earnings represent earnings before income taxes and before income from equity method investments plus: (a) fixed charges; and (b) cash distributions from equity method investments.

 

(2) Fixed charges include: (a) interest expense, whether expensed or capitalized, less interest accrued for uncertain tax positions; and (b) the portion of operating rental expense which management believes is representative of the interest component of rent expense.