Exhibit 12.1
The following table sets forth our ratio of earnings to fixed charges for the periods indicated on a consolidated historical basis.
Nine Months Ended March 31, | Year Ended June 30, | |||||||||||||||
| 2011 | 2010 | 2009 | 2008 | |||||||||||||
| (Unaudited) | ||||||||||||||||
| Ratio of Earnings (Loss) to Fixed Charges | 1.52 | x | 1.46 | x | — | 1.45 | x | |||||||||
For purposes of computing the ratio of earnings (loss) to fixed charges, earnings (loss) is defined as pre-tax income (loss) plus fixed charges. Fixed charges consist of interest expense and amortization of deferred financing fees. For the year ended June 30, 2009 earnings were inadequate to cover fixed charges and therefore have not been presented for this period. The coverage deficiency necessary for the ratio of earnings to fixed charges to equal 1.00x (one-to-one coverage) was $604.2 million for the year ended June 30, 2009.
| Nine Months Ended March 31, | Year Ended June 30, | |||||||||||||||
| 2011 | 2010 | 2009 | 2008 | |||||||||||||
(Dollars in Thousands) (Unaudited) | ||||||||||||||||
| Earnings (Loss): | ||||||||||||||||
| Pre-Tax Income (Loss) | $ | 38,962 | $ | 42,499 | $ | (604,213 | ) | $ | 46,233 | |||||||
| Fixed Charges | 74,887 | 92,838 | 94,019 | 101,655 | ||||||||||||
| Total Earnings (Loss) | 113,849 | 135,337 | (510,194 | ) | 147,888 | |||||||||||
| Fixed Charges: | ||||||||||||||||
| Interest Expense | 67,953 | 85,032 | 88,774 | 97,469 | ||||||||||||
| Deferred Financing Fees | 6,934 | 7,806 | 5,245 | 4,186 | ||||||||||||
| Total Fixed Charges | 74,887 | 92,838 | 94,019 | 101,655 | ||||||||||||
| Ratio of Earnings (Loss) to Fixed Charges | 1.52x | 1.46x | — | 1.45x | ||||||||||||