Heilig-Meyers Company
Computation of Ratio of Earnings to Fixed Charges
(dollar amounts in thousands)
Fiscal Year Ended February 28(29)
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1997 1996 1995 1994 1993
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Net Income Before Taxes 61,900 64,527 105,901 87,154 59,394
Interest 47,800 40,767 32,889 23,834 23,084
Property Rentals 48,740 41,216 33,631 22,345 17,143
Equipment Rentals 24,793 21,858 16,050 11,964 6,805
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Total Earnings Available 183,233 168,368 188,471 145,297 106,426
Fixed Charges:
Interest 47,800 40,767 32,889 23,834 23,084
Property Rentals 48,740 41,216 33,631 22,345 17,143
Equipment Rentals 24,793 21,858 16,050 11,964 6,805
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Total Fixed Charges 121,333 103,841 82,570 58,143 47,032
Ratio of Earnings to Fixed Charges 1.51 1.62 2.28 2.50 2.26
Three Months Ended May 31
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1997 1996
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Net Income Before Taxes 22,000 19,208
Interest 15,428 10,591
Property Rentals 14,105 11,240
Equipment Rentals 6,484 5,824
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Total Earnings Available 58,017 46,863
Fixed Charges:
Interest 15,428 10,591
Property Rentals 14,105 11,240
Equipment Rentals 6,484 5,824
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Total Fixed Charges 36,017 27,655
Ratio of Earnings to Fixed Charges 1.61 1.69