Exhibit 12.1
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(in millions)
Year Ended August 31 | |||||||||||||
2003 | 2002 | 2001 | |||||||||||
Losses: | |||||||||||||
Net loss | $ | (3,462.0 | ) | $ | (3,110.2 | ) | $ | (123.5 | ) | ||||
Discontinued operations, net of tax | 442.2 | 39.4 | 33.4 | ||||||||||
Income tax expense (benefit) | 532.1 | (449.0 | ) | (35.9 | ) | ||||||||
Loss from continuing operations before income tax expense (benefit) | $ | (2,487.7 | ) | $ | (3,519.8 | ) | $ | (126.0 | ) | ||||
Fixed Charges: | |||||||||||||
Interest portion of rent expenses | $ | 29.1 | $ | 33.6 | $ | 24.6 | |||||||
Interest expense | 207.1 | 238.8 | 174.8 | ||||||||||
$ | 236.2 | $ | 272.4 | $ | 199.4 | ||||||||
Deficiency of earnings before fixed charges(1) | $ | (2,723.9 | ) | $ | (3,792.2 | ) | $ | (325.4 | ) | ||||
(1) Earnings before fixed charges were inadequate to cover fixed charges. |