Fiscal Year Ended May 31, | |||||||||||||||||||
(in millions) | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||
Earnings: | |||||||||||||||||||
Earnings (loss) before income taxes …….. | $ | (39.9 | ) | $ | (741.1 | ) | $ | (590.8 | ) | $ | (1,064.6 | ) | $ | (141.7 | ) | ||||
Add: Fixed charges (per below) …… | $ | 355.9 | $ | 398.8 | $ | 479.8 | $ | 498.9 | $ | 516.4 | |||||||||
Total earnings (loss) ……. | $ | 316.0 | $ | (342.3 | ) | $ | (111.0 | ) | $ | (565.7 | ) | $ | 374.7 | ||||||
Fixed charges: | |||||||||||||||||||
Interest expense(2)… | $ | 355.9 | $ | 398.8 | $ | 479.8 | $ | 498.9 | $ | 516.4 | |||||||||
Total fixed charges ….. | $ | 355.9 | $ | 398.8 | $ | 479.8 | $ | 498.9 | $ | 516.4 | |||||||||
Ratio of earnings to fixed charges | N/A(1) | N/A(1) | N/A(1) | N/A(1) | N/A(1) | ||||||||||||||
(1) | Earnings were inadequate to cover fixed charges for the years ended May 31, 2014, 2013, 2012, 2011 and 2010 by $39.9 million, $741.1 million, $590.8 million, $1,064.6 million and $141.7 million, respectively. |
(2) | Interest expense includes the amortization of deferred financing costs and bond premium. |