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EXHIBIT 12.1
Ratio of Earnings to Fixed Charges
(unaudited)
(unaudited)
Year Ended October 31, | ||||||||||||||||||||
(amounts in thousands, except ratios) | 2001 | 2002 | 2003 | 2004 | 2005 | |||||||||||||||
Consolidated pretax earnings from continuing operations before minority interest | $ | (270,355 | ) | $ | (95,722 | ) | $ | (54,597 | ) | $ | 75,518 | $ | 466,016 | |||||||
Interest expense | — | — | — | 992 | 3,000 | |||||||||||||||
Amortization of debt issuance costs | — | — | — | 982 | 2,972 | |||||||||||||||
Interest portion of rental expense | 10,500 | 8,700 | 7,200 | 6,440 | 6,990 | |||||||||||||||
Earnings | $ | (259,855 | ) | $ | (87,022 | ) | $ | (47,397 | ) | $ | 83,932 | $ | 478,978 | |||||||
Interest expense | $ | — | $ | — | $ | — | $ | 992 | $ | 3,000 | ||||||||||
Amortization of debt issuance costs | — | — | — | 982 | 2,972 | |||||||||||||||
Interest portion of rental expense | 10,500 | 8,700 | 7,200 | 6,440 | 6,990 | |||||||||||||||
Fixed charges | $ | 10,500 | $ | 8,700 | $ | 7,200 | $ | 8,414 | $ | 12,962 | ||||||||||
Ratio of earnings to fixed charges | (a) | (a) | (a) | 10.0 | 37.0 | |||||||||||||||
(a) | Due to the loss in fiscal 2001, 2002, and 2003, the ratio coverage was less than 1:1 in each of those periods. The Company would have had to generate additional earnings of $270.4 million, $95.7 million, and $54.6 million in fiscal 2001, 2002, and 2003, respectively, to achieve a coverage of 1:1. |