Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
Fiscal Year Ended August 31, | Nine Months Ended | LTM | |||||||||||||||||||||||||
2000 | 2001 | 2002 | 2003 | 2004 | May 31, 2004 | May 31, 2005 | May 31, 2005 | ||||||||||||||||||||
FIXED CHARGES | |||||||||||||||||||||||||||
Interest expensed and capitalized | $ | 22,962 | $ | 21,051 | $ | 20,064 | $ | 21,376 | $ | 21,445 | $ | 15,693 | $ | 18,379 | $ | 24,131 | |||||||||||
Amortized premiums related to indebtedness | 683 | 923 | 818 | 928 | 925 | 666 | 497 | 756 | |||||||||||||||||||
Estimate of interest within rental expense | 349 | 338 | 3,252 | 4,422 | 4,333 | 3,349 | 3,199 | 4,183 | |||||||||||||||||||
Total Fixed Charges | $ | 23,994 | $ | 22,312 | $ | 24,134 | $ | 26,726 | $ | 26,703 | $ | 19,708 | $ | 22,075 | $ | 29,070 | |||||||||||
EARNINGS | |||||||||||||||||||||||||||
ADD | |||||||||||||||||||||||||||
Pretax income (loss) from continuing operations before minority interest in consolidated subsidiaries or income (loss) from equity investees | $ | 13,513 | $ | 29,300 | $ | (40,537 | ) | $ | (8,641 | ) | $ | 18,795 | $ | 13,644 | $ | (2,342 | ) | $ | 2,809 | ||||||||
Fixed Charges | 23,994 | 22,312 | 24,134 | 26,726 | 26,703 | 19,708 | 22,075 | 29,070 | |||||||||||||||||||
TOTAL ADJUSTMENT EARNINGS | $ | 37,507 | $ | 51,612 | $ | (16,403 | ) | $ | 18,085 | $ | 45,498 | $ | 33,352 | $ | 19,733 | $ | 31,879 | ||||||||||
RATIO OF ADJUSTED EARNINGS TO FIXED CHARGES | 1.6x | 2.3x | — | — | 1.7x | 1.7x | — | 1.1x | |||||||||||||||||||
DEFICIENCY OF EARNINGS TO FIXED CHARGES | $ | — | $ | — | $ | (40,537 | ) | $ | (8,641 | ) | $ | — | $ | — | $ | (2,342 | ) | $ | — |