Attached files
file | filename |
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10-K - FORM 10-K; SEPTEMBER 30, 2009 - RESOURCE AMERICA, INC. | rexi10k093009.htm |
EX-21.1 - EXHIBIT 21.1 - RESOURCE AMERICA, INC. | exh21_1.htm |
EX-23.1 - EXHIBIT 23.1 - RESOURCE AMERICA, INC. | exh23_1.htm |
EX-32.1 - EXHIBIT 31.1 - RESOURCE AMERICA, INC. | exh31_1.htm |
EX-32.1 - EXHIBIT 32.1 - RESOURCE AMERICA, INC. | exh32_1.htm |
EX-32.2 - EXHIBIT 32.2 - RESOURCE AMERICA, INC. | exh32_2.htm |
EX-31.2 - EXHIBIT 31.2 - RESOURCE AMERICA, INC. | exh31_2.htm |
EX-10.9(F) - SEVENTH AMENDMENT BETWEEN LEAF AND NATCITY - RESOURCE AMERICA, INC. | exh10_9f.htm |
EX-10.9(G) - EIGHTH AMENDMENT BETWEEN LEAF AND NATCITY - RESOURCE AMERICA, INC. | exh10_9g.htm |
Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
For the fiscal years ended September 30, 2009 |
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2009 |
2008 |
2007 |
2006 |
2005 |
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Earnings: |
||||||||||||||||||||
Pretax (loss) income from continuing
operations |
$ | (24,991 | ) | $ | (40,639 | ) | $ | 7,682 | $ | 17,667 | $ | 12,585 | ||||||||
Less – minority interests |
(54 | ) | 2,335 | 669 | 151 | − | ||||||||||||||
Less – equity in earnings of affiliates |
(1,279 | ) | 15,656 | (13,960 | ) | (5,896 | ) | (11,413 | ) | |||||||||||
Add – cash distributions received from
equity investments |
6,128 | 15,647 | 16,212 | 12,570 | 13,899 | |||||||||||||||
(20,196 | ) | (7,001 | ) | 10,603 | 24,492 | 15,071 | ||||||||||||||
Fixed charges |
20,520 | 47,581 | 33,782 | 10,244 | 2,907 | |||||||||||||||
Total |
$ | 324 | $ | 40,580 | $ | 44,385 | $ | 34,736 | $ | 17,978 | ||||||||||
Fixed Charges: |
||||||||||||||||||||
Interest expense |
$ | 20,199 | $ | 47,266 | $ | 33,566 | $ | 10,119 | $ | 2,811 | ||||||||||
Estimated interest portion of rent
expense (2) |
321 | 315 | 216 | 125 | 96 | |||||||||||||||
Total |
$ | 20,520 | $ | 47,581 | $ | 33,782 | $ | 10,244 | $ | 2,907 | ||||||||||
Ration of earnings to fixed charges | (1) | (1) | 1.3 | 3.4 | 6.2 |
(1) |
Earnings for fiscal 2009 and 2008 were inadequate to cover fixed charges. The coverage deficiencies for those periods were $20.1 million and $6.8 million, respectively. |
(2) |
Estimated to be 8% of rent expense. |