Exhibit 12
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
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| Year Ended September 30, |
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(dollars in thousands) |
| 2012* |
| 2013 |
| 2014 |
| 2015 |
| 2016 |
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Fixed Charges Computation |
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Interest expensed and capitalized(1) |
| $ | 38,809 |
| $ | 37,100 |
| $ | 44,768 |
| $ | 58,681 |
| $ | 39,312 |
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Amortized premiums, discounts, and capitalized expenses related to indebtedness |
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| 14,184 |
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| 5,841 |
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| 2,175 |
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| 6,179 |
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| 3,973 |
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Reasonable approximation of interest within rental expense |
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| 3,106 |
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| 3,454 |
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| 3,342 |
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| 3,437 |
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| 3,615 |
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Total Fixed Charges and Preferred Equity Dividends |
| $ | 56,099 |
| $ | 46,395 |
| $ | 50,285 |
| $ | 68,297 |
| $ | 46,900 |
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Earnings Computation |
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Pre‑tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees |
| $ | (16,454) |
| $ | 12,209 |
| $ | 20,576 |
| $ | 37,932 |
| $ | 72,479 |
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Plus |
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Fixed charges |
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| 56,099 |
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| 46,395 |
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| 50,285 |
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| 68,297 |
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| 46,900 |
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Minus |
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Interest capitalized |
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| 137 |
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| 192 |
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| 427 |
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| 585 |
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| 837 |
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Total Earnings |
| $ | 39,508 |
| $ | 58,412 |
| $ | 70,434 |
| $ | 105,644 |
| $ | 118,542 |
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Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
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| 0.70 |
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| 1.26 |
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| 1.40 |
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| 1.55 |
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| 2.53 |
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* 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. |