EXHIBIT 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
| 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
Income (loss) before minority interest and income taxes | $ | (3,882 | ) | $ | 66 | $ | 8,623 | $ | 60,828 | $ | 62,046 | |||||||||
Fixed charges | 34,430 | 40,699 | 34,880 | 37,105 | 36,560 | |||||||||||||||
Capitalized interest | (21 | ) | (18 | ) | (89 | ) | (164 | ) | (252 | ) | ||||||||||
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Total earnings | $ | 30,527 | $ | 40,747 | $ | 43,414 | $ | 97,769 | $ | 98,354 | ||||||||||
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Interest expense (including capitalized interest) | $ | 19,893 | $ | 24,553 | $ | 20,666 | $ | 24,072 | $ | 25,853 | ||||||||||
Amortized premiums and expenses | 2,586 | 3,546 | 1,414 | 1,022 | 498 | |||||||||||||||
Estimated interest within rent expense | 11,951 | 12,600 | 12,800 | 12,011 | 10,209 | |||||||||||||||
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Total fixed charges | $ | 34,430 | $ | 40,699 | $ | 34,880 | $ | 37,105 | $ | 36,560 | ||||||||||
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Ratio of earnings to fixed charges (1) | — | 1.0 | 1.2 | 2.6 | 2.7 | |||||||||||||||
| (1) | Due to our loss in the fiscal year ended January 31, 2012, the ratio coverage was less than 1:1. Additional earnings of $3.9 million would have been required to achieve a ratio of 1:1. For the fiscal year ended January 31, 2012, we incurred charges of approximately $11.1 million related to the repayment of our term loan that are not included in amortized premiums and expenses above. This amount included a prepayment premium of $4.8 million, write-off of the unamortized original issue discount of $5.4 million and deferred financing costs of $0.9 million. |