Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
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| Nine |
| Fiscal Years Ended June 30, |
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| 31, 2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
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| ($ in millions) |
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Earnings: |
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Add: |
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Earnings from continuing operations before income taxes |
| $ | 206.4 |
| $ | 438.9 |
| $ | 395.5 |
| $ | 323.2 |
| $ | 200.9 |
| $ | 269.7 |
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Fixed charges |
| 30.6 |
| 37.6 |
| 36.9 |
| 28.0 |
| 28.4 |
| 25.7 |
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Amortization of capitalized interest |
| — |
| — |
| — |
| — |
| — |
| — |
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Distributed income from equity investees |
| — |
| — |
| — |
| — |
| — |
| — |
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Share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges |
| — |
| — |
| — |
| — |
| — |
| — |
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Less: |
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Interest capitalized |
| — |
| — |
| — |
| — |
| — |
| — |
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Preference security dividend requirements of consolidated subsidiaries |
| — |
| — |
| — |
| — |
| — |
| — |
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The minority interest in the pre-tax income/(loss) of subsidiaries that have not incurred fixed charges(2) |
| (5.1 | ) | (5.5 | ) | 0.4 |
| 0.1 |
| (0.7 | ) | (0.2 | ) | ||||||
Total |
| $ | 242.1 |
| $ | 482.0 |
| $ | 432.0 |
| $ | 351.1 |
| $ | 230.0 |
| $ | 295.6 |
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Fixed charges: |
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Interest expense |
| $ | 21.1 |
| $ | 25.4 |
| $ | 23.9 |
| $ | 14.5 |
| $ | 14.0 |
| $ | 9.9 |
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Amortized premiums, discounts and capitalized expenses related to indebtedness |
| — |
| — |
| — |
| — |
| — |
| — |
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Estimate of the interest within rental expense(1) |
| 9.5 |
| 12.2 |
| 13.0 |
| 13.5 |
| 14.4 |
| 15.8 |
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Preference security dividend requirements of consolidated subsidiaries |
| — |
| — |
| — |
| — |
| — |
| — |
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Total |
| $ | 30.6 |
| $ | 37.6 |
| $ | 36.9 |
| $ | 28.0 |
| $ | 28.4 |
| $ | 25.7 |
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Ratio of Earnings to Fixed Charges |
| 7.9 |
| 12.8 |
| 11.7 |
| 12.5 |
| 8.1 |
| 11.5 |
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(1) One-third of rental expense under operating leases is assumed to be the equivalent of interest.
(2) Represents the Company’s share of gains (losses) from equity method investments.
