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COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
| 30-Sep-17 | 30-Sep-16 | 30-Sep-15 | 30-Sep-14 | 30-Sep-13 | |||||||||||
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Consolidated ratio of earnings to fixed charges | 2.1 | 1.4 | 0.5 | 4.0 | 4.7 | |||||||||||
Earnings: | ||||||||||||||||
Income from operations | 287 | 22 | (258 | ) | 257 | 312 | ||||||||||
Add: | ||||||||||||||||
Fixed charges | 304 | 345 | 467 | 90 | 92 | |||||||||||
Amortization of capitalized interest | 18 | 31 | 24 | 2 | 2 | |||||||||||
Distributed income of equity investees | 137 | 149 | 158 | 24 | 31 | |||||||||||
Less: | ||||||||||||||||
Capitalized interest | (20 | ) | (10 | ) | (88 | ) | (7 | ) | (2 | ) | ||||||
Noncontrolling interest | (82 | ) | (67 | ) | (84 | ) | (3 | ) | (4 | ) | ||||||
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Total Earnings | 644 | 470 | 219 | 363 | 431 | |||||||||||
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Fixed Charges: | ||||||||||||||||
Interest expense | 231 | 258 | 300 | 41 | 45 | |||||||||||
Capitalized interest | 20 | 10 | 88 | 7 | 2 | |||||||||||
Interest component of rent expense | 53 | 77 | 79 | 42 | 45 | |||||||||||
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Total Fixed Charges | 304 | 345 | 467 | 90 | 92 | |||||||||||
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The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges. For this purpose, fixed charges consist of interest expense, capitalized interest and the portion of rental expense that is estimated by us to be representative of interest. Earnings consist of (i) the sum of income from operations, fixed charges, the amortization of capitalized interest and distributed income of equity investees, less (ii) the sum of capitalized interest and noncontrolling interest.
COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES