Exhibit 12.01
Computation of Ratio of Earnings to Fixed Charges | ||||||||||||||||||||
Amount in million dollars |
| Year Ended July 31, | ||||||||||||||||||||
| 2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||||
Earnings | ||||||||||||||||||||
Loss before income taxes | $ | (130.2 | ) | $ | (194.1 | ) | $ | (172.3 | ) | $ | (121.9 | ) | $ | (222.2 | ) | |||||
Fixed charges | 42.7 | 37.3 | 31.0 | 28.3 | 6.8 | |||||||||||||||
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Total earnings as defined | $ | (87.5 | ) | $ | (156.8 | ) | $ | (141.3 | ) | $ | (93.6 | ) | $ | (215.4 | ) | |||||
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Fixed charges | ||||||||||||||||||||
Interest expense | $ | 0.8 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Amortization of debt discounts and capitalized expenses related to indebtedness | 28.8 | 24.5 | 23.4 | 22.3 | 1.8 | |||||||||||||||
Estimated interest component of rental expense (1) | 13.1 | 12.8 | 7.6 | 6.0 | 5.0 | |||||||||||||||
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Total fixed charges as defined | $ | 42.7 | $ | 37.3 | $ | 31.0 | $ | 28.3 | $ | 6.8 | ||||||||||
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Ratio of earnings to fixed charges | — | — | — | — | — | |||||||||||||||
Deficiency of earnings available to cover fixed charges | $ | 130.2 | $ | 194.1 | $ | 172.3 | $ | 121.9 | $ | 222.2 | ||||||||||
| (1) | One-third of rent expense is the portion deemed representative of the interest factor. |
