Exhibit 12
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
| Year Ended September 30, | Year to date Ended June 30, | |||||||||||||||||||||||
| (in thousands) | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | ||||||||||||||||||
Fixed Charges Computation | ||||||||||||||||||||||||
Interest expensed and capitalized (1) | $ | 35,119 | $ | 29,671 | $ | 23,205 | $ | 34,459 | $ | 56,344 | $ | 96,291 | ||||||||||||
Amortized premiums, discounts, and capitalized expenses related to indebtedness | 2,843 | 9,075 | 8,747 | 13,459 | 16,027 | 17,111 | ||||||||||||||||||
Reasonable approximation of interest within rental expense | 3,092 | 3,440 | 3,499 | 3,919 | 4,177 | 2,852 | ||||||||||||||||||
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Total Fixed Charges and Preferred Equity Dividends | $ | 41,054 | $ | 42,186 | $ | 35,451 | $ | 51,837 | $ | 76,548 | $ | 116,254 | ||||||||||||
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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 | $ | 137,816 | $ | 55,479 | $ | (167,848 | ) | $ | (518,269 | ) | $ | (99,344 | ) | $ | (182,244 | ) | ||||||||
Plus | ||||||||||||||||||||||||
Fixed charges | 41,054 | 42,186 | 35,451 | 51,837 | 76,548 | 116,254 | ||||||||||||||||||
Minus | ||||||||||||||||||||||||
Interest capitalized | 1,027 | 784 | 894 | 1,396 | 441 | 54 | ||||||||||||||||||
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Total Earnings | $ | 177,843 | $ | 96,881 | $ | (133,291 | ) | $ | (467,828 | ) | $ | (23,237 | ) | $ | (66,044 | ) | ||||||||
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Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | 4.33 | 2.30 | N/A | * | 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 years ended September 30, 2008, 2009, 2010 and for the nine months ended June 30, 2011 were $168.7 million, $519.7 million, $99.8 million, and $182.3 million respectively. |
| (1) | Interest expense associated with unrecognized tax benefits is included in income tax expense, not with interest expense. |