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Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
| Year Ended September 30, | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
(dollars in thousands) | 2011 | 2012** | 2013 | 2014 | 2015 | |||||||||||
Fixed Charges Computation | ||||||||||||||||
Interest expensed and capitalized(1) | $ | 106,557 | $ | 38,809 | $ | 37,100 | $ | 44,768 | $ | 58,681 | ||||||
Amortized premiums, discounts, and capitalized expenses related to indebtedness | 20,069 | 14,184 | 5,841 | 2,175 | 6,179 | |||||||||||
Reasonable approximation of interest within rental expense | 3,323 | 3,106 | 3,454 | 3,342 | 3,437 | |||||||||||
| | | | | | | | | | | | | | | | |
Total Fixed Charges and Preferred Equity Dividends | $ | 129,949 | $ | 56,099 | $ | 46,395 | $ | 50,285 | $ | 68,297 | ||||||
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Earnings Computation | ||||||||||||||||
Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | (138,093 | ) | $ | (16,454 | ) | $ | 12,209 | $ | 20,576 | $ | 37,932 | ||||
Plus | ||||||||||||||||
Fixed charges | 129,949 | 56,099 | 46,395 | 50,285 | 68,297 | |||||||||||
Minus | ||||||||||||||||
Interest capitalized | 91 | 137 | 192 | 427 | 585 | |||||||||||
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Total Earnings | $ | (8,235 | ) | $ | 39,508 | $ | 58,412 | $ | 70,434 | $ | 105,644 | |||||
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Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | N/A | * | 0.70 | 1.26 | 1.40 | 1.55 |
- *
- Total earnings for this period were less than zero dollars. The deficiency of earnings to fixed charges for the year ended September 30, 2011 was $138.2 million.
- **
- The deficiency of earnings to fixed charges for the year ended September 30, 2012 was $16.6 million.
- (1)
- Interest expense associated with unrecognized tax benefits is included in income tax expense, not with interest expense.