Exhibit 12
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
| Year Ended September 30, | ||||||||||||||||||||
| (in thousands) | 2006 | 2007 | 2008 | 2009 | 2010 | |||||||||||||||
Fixed Charges Computation | ||||||||||||||||||||
Interest expensed and capitalized (1) | $ | 35,119 | $ | 29,671 | $ | 23,205 | $ | 34,459 | $ | 56,344 | ||||||||||
Amortized premiums, discounts, and capitalized expenses related to indebtedness | 2,843 | 9,075 | 8,747 | 13,459 | 16,027 | |||||||||||||||
Reasonable approximation of interest within rental expense | 3,092 | 3,440 | 3,499 | 3,919 | 4,177 | |||||||||||||||
Total Fixed Charges and Preferred Equity Dividends | $ | 41,054 | $ | 42,186 | $ | 35,451 | $ | 51,837 | $ | 76,548 | ||||||||||
Earnings Computation | ||||||||||||||||||||
Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | 137,816 | $ | 59,236 | $ | (161,874 | ) | $ | (502,272 | ) | $ | (99,344 | ) | |||||||
Plus | ||||||||||||||||||||
Fixed charges | 41,054 | 42,186 | 35,451 | 51,837 | 76,548 | |||||||||||||||
Minus | ||||||||||||||||||||
Interest capitalized | 1,027 | 784 | 894 | 1,396 | 441 | |||||||||||||||
Total Earnings | $ | 177,843 | $ | 100,638 | $ | (127,317 | ) | $ | (451,831 | ) | $ | (23,237 | ) | |||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | 4.33 | 2.39 | N/A | * | N/A | * | N/A | * | ||||||||||||
| * | Total earnings for these periods were less than zero dollars. The deficiency of earnings to fixed charges for the year ended September 30, 2008 was $162.8 million, the deficiency of earnings to fixed charges for the year ended September 30, 2009 was $503.7 million, and the deficiency of earnings to fixed charges for the year ended September 30, 2010 was $99.8 million. |
| (1) | Interest expense associated with unrecognized tax benefits is included in income tax expense, not with interest expense. |