PART III
Item 19 : Exhibits
EXHIBIT 7.1 COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
A$ millions | 30 June 2003 | 30 June 2002 | 30 June 2001 | |||||
AUSTRALIAN GAAP | ||||||||
(A) Operating Profit before tax from continuing operations (including non recurring items) | 80.8 | (32.8 | ) | (91.1 | ) | |||
Net Interest Expense | 26.5 | 54.7 | 99.4 | |||||
50% of SPT Total Interest(1) | 9.1 | 5.8 | 9.1 | |||||
(B) Total Fixed Charges | 35.6 | 60.5 | 108.5 | |||||
(C) Total (A) plus (B) | 116.4 | 27.7 | 17.4 | |||||
Ratio of (C) to (B) | 3.27 | 0.46 | 0.16 | |||||
US GAAP | ||||||||
US GAAP Profit after tax from continuing operations | 85.8 | (75.1 | ) | (223.0 | ) | |||
Operating profit tax expense | 26.8 | 26.9 | 147.2 | |||||
Minority Interest | 2.8 | 2.8 | 3.6 | |||||
US GAAP Profit before Tax | 115.4 | (45.4 | ) | (72.2 | ) | |||
(B) Add: Total Fixed Charges as above | 35.6 | 60.5 | 108.5 | |||||
(D) Total | 151.0 | 15.1 | 36.3 | |||||
Ratio of (D) to (B) | 4.24 | 0.25 | 0.33 | |||||
(1) | 50% owned entities |
SPT represents the South Pacific Tyres joint venture