Statement of Computation of Ratios of Earnings to Fixed Charges
The following table sets forth our ratio of earnings to fixed charges on a historical basis for the periods indicated (amounts in thousands, except ratio data).
|
| Nine months |
| Fiscal Year Ended June 30, |
| ||||||||||||||
|
| 2018 |
| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
| ||||||
Earnings |
| $ | (133,315 | ) | $ | 118,866 |
| $ | (21,758 | ) | $ | 62,244 |
| $ | 82,927 |
| $ | 137,168 |
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest expense |
| 11,968 |
| 19,721 |
| 17,912 |
| 10,638 |
| 10,638 |
| 10,608 |
| ||||||
Amortization of debt issuance costs |
| 1,912 |
| 2,133 |
| 2,038 |
| 1,851 |
| 1,735 |
| 1,650 |
| ||||||
Amortization of discount on convertible securities due 2019 |
| 9,288 |
| 11,692 |
| 10,947 |
| 10,250 |
| 9,597 |
| 9,015 |
| ||||||
Portion of rental expense representative of interest |
| 37 |
| 70 |
| 86 |
| 101 |
| 49 |
| 64 |
| ||||||
Total Fixed Charges |
| $ | 23,205 |
| $ | 33,616 |
| $ | 30,983 |
| $ | 22,840 |
| $ | 22,019 |
| $ | 21,337 |
|
Earnings plus fixed charges |
| $ | (110,110 | ) | $ | 152,482 |
| $ | 9,225 |
| $ | 85,084 |
| $ | 104,946 |
| $ | 158,505 |
|
Ratio of earnings to fixed charges (unaudited) |
| N/A |
| 4.54 |
| N/A |
| 3.73 |
| 4.77 |
| 7.43 |
| ||||||
Deficiency of earnings available to cover fixed charges |
| $ | (133,315 | ) | N/A |
| $ | (21,758 | ) | N/A |
| N/A |
| N/A |
|
(1) For the periods we had losses, we have provided the deficiency amount. For purposes of calculating the ratio of earnings to fixed charges, “earnings” represents pre-tax income from continuing operations before fixed charges. “Fixed charges” means the sum of (i) interest expensed and capitalized, (ii) amortized debt issuance costs, and (iii) an estimate of the interest within rental expense.