Exhibit 12.1
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
Three Months Ended September 30, 2013 | Year Ended June 30, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Pre-tax income from continuing operations(1) | 31,259 | (15,817 | ) | 93,512 | 99,797 | 81,907 | 92,808 | |||||||||||||||||
Add: | ||||||||||||||||||||||||
Fixed charges | 37 | 12 | 249 | 273 | (296 | ) | 300 | |||||||||||||||||
Share of pre-tax income of equity investees | 1,030 | 1,910 | — | — | — | — | ||||||||||||||||||
Share of pre-tax loss of equity investees | — | — | (690 | ) | — | — | — | |||||||||||||||||
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Income as adjusted | 32,326 | (13,895 | ) | 93,071 | 100,070 | 81,611 | 93,108 | |||||||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expense | 6 | (113 | ) | 125 | 157 | (398 | ) | (184 | ) | |||||||||||||||
Debt expense | 31 | 125 | 125 | 116 | 102 | 485 | ||||||||||||||||||
Pre-tax Earnings to Cover Preferred Stock Dividends | — | — | — | — | — | — | ||||||||||||||||||
Fixed charges | 37 | 12 | 249 | 273 | (296 | ) | 300 | |||||||||||||||||
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RATIO | 873.2 | N/A | (2) | 373.1 | 366.7 | N/A | (3) | 310.1 | ||||||||||||||||
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(1) | Pre-tax income represents income from continuing operations before income taxes, before cumulative effect of a change in accounting principle, and before adjustment for non-controlling interests and equity earnings, as applicable. |
(2) | During the year ended June 30, 2013, the coverage ratio was less than 1:1. The Company would have needed to generate additional earnings of approximately $13.9 million during the year ended June 30, 2013 to achieve a coverage ratio of 1:1. |
(3) | Fixed charges for the year ended June 30, 2010 were a gain of $0.3 million. |