Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratios)
Successor | Predecessor | |||||||||||||||
Year Ended June 30, 2010 | Year Ended June 30, 2009 | Period August 15, 2007 through June 30, 2008 | Period July 1, 2007 through August 14, 2007 | |||||||||||||
Earnings: | ||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (11,449 | ) | $ | (92,020 | ) | $ | (139,531 | ) | $ | (21,239 | ) | ||||
Add: fixed charges | 86,713 | 86,277 | 76,810 | 584 | ||||||||||||
Total adjusted earnings (loss) | $ | 75,264 | $ | (5,743 | ) | $ | (62,721 | ) | $ | (20,655 | ) | |||||
Fixed Charges: | ||||||||||||||||
Interest expense | $ | 79,177 | $ | 79,052 | $ | 71,144 | $ | 58 | ||||||||
Amortization of deferred financing costs | 4,771 | 4,771 | 3,514 | 217 | ||||||||||||
Rentals at computed interest factor (1) | 2,765 | 2,454 | 2,152 | 309 | ||||||||||||
Total fixed charges | $ | 86,713 | $ | 86,277 | $ | 76,810 | $ | 584 | ||||||||
Ratio of Earnings to Fixed Charges* | 0.9 | x | * | * | * |
(1) | Amounts represent one-third of rent expense, which we believe to be representative of the interest factored in these rentals. |
* The deficit of earnings to fixed charges was 11.4 million for the year ended June 30, 2010, $92.0 million for the year ended June 30, 2009, $139.5 million for the period August 15, 2007 through June 30, 2008 and $21.2 million for the period July 1, 2007 through August 14, 2007. |