Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
| For the Nine Months Ended June 30, 2012 |
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| For the Fiscal Year Ended September 30, | ||||||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||
| Earnings: |
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| Pretax income (loss) from continuing operations |
$ | 46,042 | $ | (9,834 | ) | $ | (19,947 | ) | $ | (26,594 | ) | $ | (44,882 | ) | $ | 9,824 | ||||||||
| Less – noncontrolling interests |
— | — | (8 | ) | (1,549 | ) | (6,482 | ) | 1,612 | |||||||||||||||
| Less – equity in (earnings) losses of affiliates |
(501 | ) | (10,377 | ) | (4,870 | ) | (1,279 | ) | 15,656 | (13,960 | ) | |||||||||||||
| Add – cash distributions received from equity investments |
2,741 | 4,522 | 5,104 | 6,128 | 15,647 | 16,212 | ||||||||||||||||||
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| 48,282 | (15,689 | ) | (19,721 | ) | (23,294 | ) | (20,061 | ) | 13,688 | |||||||||||||||
| Fixed charges |
4,422 | 15,643 | 13,386 | 20,520 | 47,581 | 33,782 | ||||||||||||||||||
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| Total |
$ | 52,704 | $ | (46 | ) | $ | (6,335 | ) | $ | (2,774 | ) | $ | 27,520 | $ | 47,470 | |||||||||
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| Fixed Charges: |
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| Interest expense |
$ | 4,197 | $ | 15,343 | $ | 13,086 | $ | 20,199 | $ | 47,266 | $ | 33,566 | ||||||||||||
| Estimated interest portion of rent expense (2) |
225 | 300 | 300 | 321 | 315 | 216 | ||||||||||||||||||
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| Total |
$ | 4,422 | $ | 15,643 | $ | 13,386 | $ | 20,520 | $ | 47,581 | $ | 33,782 | ||||||||||||
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| Ratio of earnings to fixed charges |
11.9 | (1 | ) | (1 | ) | (1 | ) | (1 | ) | 1.4 | ||||||||||||||
| (1) | Earnings for fiscal 2011, 2010, 2009 and 2008 were inadequate to cover fixed charges. The coverage deficiencies for those periods were $15.7 million, $19.7 million, $23.2 million and $20.0 million, respectively. |
| (2) | Estimated to be 8% of rent expense. |