Exhibit 12.1
FERRELLGAS , L.P. AND SUBSIDIARIES
CALCULATION OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
CALCULATION OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
Six months | Three months | |||||||||||||||||||||||||||||||||||
Year ended July 31, | ended Jan 31, | ended Oct 31 | ||||||||||||||||||||||||||||||||||
2004 | 2005 | 2006 | 2007 | 2008 | 2007 | 2008 | 2007 | 2008 | ||||||||||||||||||||||||||||
Earnings | ||||||||||||||||||||||||||||||||||||
Pre-tax income from continuing operations | $ | 41,008 | $ | 10,575 | $ | 52,989 | $ | 65,987 | $ | 49,238 | $ | 44,009 | $ | 38,671 | $ | (19,572 | ) | $ | (9,278 | ) | ||||||||||||||||
Add: Fixed charges (see below) | 48,244 | 79,074 | 72,293 | 75,245 | 72,332 | 38,331 | 37,942 | 19,121 | 20,077 | |||||||||||||||||||||||||||
Less: capitalized interest | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Income as adjusted (a) | $ | 89,252 | $ | 89,649 | $ | 125,282 | $ | 141,232 | $ | 121,570 | $ | 82,340 | $ | 76,613 | $ | (6,267 | ) | $ | 4,889 | |||||||||||||||||
Fixed charges | ||||||||||||||||||||||||||||||||||||
Interest, either expensed or capitalized, and amortized capitalized expenses related to indebtedness | 54,242 | 67,430 | 60,537 | 64,201 | 63,001 | 32,809 | 33,277 | 16,360 | 17,744 | |||||||||||||||||||||||||||
Interest portion of lease expense | 9,524 | 11,644 | 11,756 | 11,044 | 9,331 | 5,522 | 4,665 | 2,761 | 2,333 | |||||||||||||||||||||||||||
Fixed charges (b) | $ | 63,766 | $ | 79,074 | $ | 72,293 | $ | 75,245 | $ | 72,332 | $ | 38,331 | $ | 37,942 | $ | 19,121 | $ | 20,077 | ||||||||||||||||||
Ratio of Earnings to Fixed Charges (a/b) | 1.4 | 1.1 | 1.7 | 1.9 | 1.7 | 2.1 | 2.0 | (0.3 | ) | 0.2 | ||||||||||||||||||||||||||