1 EXHIBIT 12.01 CALCULATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES AND TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS (DOLLAR AMOUNTS IN THOUSANDS) RATIOS OF EARNINGS TO FIXED CHARGES TWO MONTHS FISCAL YEAR ENDED JULY 31, ENDED SEPT. 30, ------------------------------------------------------------------------ 1998 1998 1997 1996 1995 1994 ---- ---- ---- ---- ---- ---- EARNINGS: Net $16,937 $ 90,573 $ 77,037 $ 70,521 $ 62,716 $ 52,317 Interest expense (including 7,278 36,815 28,256 17,561 7,174 2,289 amortization of debt discount and issuing costs) Other adjustments 233 551 494 504 493 392 --- --- -------- -------- -------- -------- 24,497 $127,939 $105,787 $ 88,586 $ 70,383 $ 54,998 ------ -------- -------- -------- -------- -------- FIXED CHARGES: Interest expense (including $7,278 $36,815 $ 28,256 $ 17,561 $ 7,174 $ 2,289 amortization of debt discount and issuing costs) Capitalized interest 49 12 868 203 1,161 586 --- ------- --- --- ---- -------- Preferred share dividends Other adjustments 54 372 327 388 394 365 -- --- --- --- -------- -------- $7,381 $37,199 $ 29,451 $ 18,152 $ 8,729 $ 3,240 ------ ------- -------- -------- -------- -------- RATIO OF EARNINGS TO FIXED CHARGES 3.3X 3.4X 3.6X 4.9X 8.1X 17.0X RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE DIVIDEND REQUIREMENTS TWO MONTHS FISCAL YEAR ENDED JULY 31, ENDED SEPT. 30, ----------------------------- 1998 1998 1997 ---- ---- ---- EARNINGS: Net $16,937 $ 90,573 $ 77,037 Interest expense (including 7,278 36,815 28,256 amortization of debt discount and issuing costs) Other adjustments 233 551 494 -------- -------- -------- $24,497 $127,939 $105,787 ------- -------- -------- FIXED CHARGES AND PREFERRED SHARE DIVIDENDS: Interest expense (including $7,278 $ 36,815 $ 28,256 amortization of debt discount and issuing costs) Capitalized interest 49 12 868 Preferred share dividends 975 5,850 461 Other adjustments 54 372 327 ------ -------- -------- $8,356 $ 43,049 $ 39, 912 ------ -------- --------- RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS 2.9X 3.0X 3.5X