EXHIBIT (12)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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| Twelve |
| |
|
| Months Ended |
| |
|
| September 30, 2014 |
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|
|
|
| |
Income before provision for income taxes and fixed charges (Note A) |
| $ | 164,887,212 |
|
|
|
|
| |
Fixed charges: |
|
|
| |
Interest on long-term debt |
| $ | 40,427,221 |
|
Interest on short-term debt |
| 63,957 |
| |
Other interest |
| 996,113 |
| |
Rental expense representative of an interest factor (Note B) |
| 10,950,062 |
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|
|
|
| |
Total fixed charges |
| $ | 52,437,353 |
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|
|
|
| |
Ratio of earnings to fixed charges |
| 3.14 | x | |
NOTE A: For the purpose of determining earnings in the calculation of the ratio, net income has been increased by the provision for income taxes, non-operating income taxes and by the sum of fixed charges as shown above.
NOTE B: One-third of rental expense (which approximates the interest factor).
