Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
Year ended | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
31-Dec | 31-Dec | 31-Dec | 31-Dec | 31-Dec | 31-Mar | |||||||||||||||||||
2005 | 2006 | 2007 | 2008 | 2009 | 2010 | |||||||||||||||||||
Consolidated Statements of Income Data | ||||||||||||||||||||||||
Income (loss) before income taxes | $ | 60,140 | ($22,227 | ) | $ | 93,934 | $ | 81,026 | $ | 143,146 | $ | 70 | ||||||||||||
Add: | ||||||||||||||||||||||||
Portion of rents representative of the interest factor | $ | 974 | $ | 968 | $ | 973 | $ | 2,347 | $ | 2,287 | $ | 553 | ||||||||||||
Interest on indebtedness | 12,709 | 23,437 | 27,591 | 21,525 | 17,530 | 5,156 | ||||||||||||||||||
Amortization of deferred financing costs | 374 | 1,016 | 1,431 | 1,635 | 1,637 | 506 | ||||||||||||||||||
Income as adjusted | $ | 74,197 | $ | 3,194 | $ | 123,929 | $ | 106,533 | $ | 164,600 | $ | 6,285 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Portion of rents representative of the interest factor | $ | 974 | $ | 968 | $ | 973 | $ | 2,347 | $ | 2,287 | $ | 553 | ||||||||||||
Interest of indebtedness | 12,709 | 23,437 | 27,591 | 21,525 | 17,530 | 5,156 | ||||||||||||||||||
Amortization of deferred financing costs | 374 | 1,016 | 1,431 | 1,635 | 1,637 | $ | 506 | |||||||||||||||||
Fixed charges | $ | 14,057 | $ | 25,421 | $ | 29,995 | $ | 25,507 | $ | 21,454 | $ | 6,215 | ||||||||||||
Ratio of earnings to fixed charges | 5.3x | (*) | 4.1x | 4.2x | 7.7x | 1.0x | ||||||||||||||||||
* Earnings were insufficient to cover fixed charges by $22.2 million.