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Content analysis
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H.S. freshman Avg
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Exhibit 12(a)
Computation of Ratio Earnings to Fixed Charges
(dollars in thousands)
|
| Fiscal Year Ended June 30, |
| |||||||
|
| 2009 |
| 2008 |
| 2007 |
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Earnings: |
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|
|
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Income (loss) before income taxes |
| $ | (81,180 | ) | $ | 92,178 |
| $ | 109,726 |
|
Unconsolidated affiliates’ interests, net |
| — |
| — |
| (201 | ) | |||
Amortization of capitalized interest |
| 46 |
| 45 |
| 21 |
| |||
Interest expense and other related financing costs |
| 11,764 |
| 11,713 |
| 11,762 |
| |||
Interest portion of rent expense (1) |
| 12,901 |
| 13,659 |
| 12,054 |
| |||
Adjusted earnings |
| $ | (56,469 | ) | $ | 117,595 |
| $ | 133,362 |
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Fixed Charges: |
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Interest expense and other related financing costs |
| $ | 11,764 |
| $ | 11,713 |
| $ | 11,762 |
|
Interest portion of rent expense (1) |
| 12,901 |
| 13,659 |
| 12,054 |
| |||
Total fixed charges |
| $ | 24,665 |
| $ | 25,372 |
| $ | 23,816 |
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Ratio of earnings to fixed charges |
| (2.29 | ) | 4.63 |
| 5.60 |
|
(1) One-third of rent expense is considered representative of the interest factor within rent expense