Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions, except ratios)
| Year Ended November 30, | ||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
Pre-tax income (loss) from continuing operations | $ | 18.5 | $ | 27.9 | $ | (2.0 | ) | $ | (6.9 | ) | $ | 3.3 | ||||||||
Adjustment for (income) loss from equity investees | — | — | (.2 | ) | (1.2 | ) | (2.3 | ) | ||||||||||||
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | 18.5 | $ | 27.9 | $ | (2.2 | ) | $ | (8.1 | ) | $ | 1.0 | ||||||||
Distributed income equity investees | — | — | — | — | .5 | |||||||||||||||
Less: Capitalized interest | — | — | — | — | — | |||||||||||||||
Amortization of interest previously capitalized | — | — | — | — | — | |||||||||||||||
Adjusted pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | 18.5 | $ | 27.9 | $ | (2.2 | ) | $ | (8.1 | ) | $ | 1.5 | ||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 8.0 | $ | 7.5 | $ | 12.3 | $ | 15.7 | $ | 20.3 | ||||||||||
Interest capitalized during the period | — | — | — | — | — | |||||||||||||||
Amortization of debt issuance costs | .7 | .6 | .7 | .8 | 1.0 | |||||||||||||||
Imputed interest portion of rent expense | 1.3 | 1.3 | 1.6 | 1.5 | 1.8 | |||||||||||||||
Total Fixed Charges | $ | 10.0 | $ | 9.4 | $ | 14.6 | $ | 24.4 | $ | 23.1 | ||||||||||
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees plus fixed charges | $ | 28.5 | $ | 37.3 | $ | 12.4 | $ | 9.9 | $ | 24.6 | ||||||||||
Ratio of Earnings to Fixed Charges(a) | 2.8 | 4.0 | — | — | 1.1 | |||||||||||||||
| (a) | For 2007 and 2008, the ratio was less than 1.0x and was deficient by $8.1 million and $2.2 million, respectively. |