Attached files
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Year Ended May 31, | |||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||
($ in thousands) | |||||||||||||||
Income before income taxes |
$103,536 | $44,398 | $40,154 | $6,014 | $20,055 | ||||||||||
Plus fixed charges: |
|||||||||||||||
Interest expense |
1,481 | 1,692 | 296 | 272 | 184 | ||||||||||
Debt cost amortization |
512 | 470 | 0 | 0 | 0 | ||||||||||
Portion of rents representative of an appropriate interest factor |
3,439 | 3,295 | 2,990 | 3,379 | 3,007 | ||||||||||
Total fixed charges (1) |
$5,432 | $5,457 | $3,286 | $3,651 | $3,191 | ||||||||||
Adjusted earnings (2) |
$108,968 | $49,855 | $43,440 | $9,665 | $23,246 | ||||||||||
Ratio (2 divided by 1) |
20.1 | 9.1 | 13.2 | 2.6 | 7.3 | ||||||||||
Fixed charges deficiency |
$0 | $0 | $0 | $0 | $0 | ||||||||||
Rent Expense |
$10,328 | $9,895 | $8,980 | $10,148 | $9,031 | ||||||||||
Interest Factor at 33.3% |
33.3 | % | 33.3 | % | 33.3 | % | 33.3 | % | 33.3 | % | |||||
Portion of rents representative of an appropriate interest factor |
$3,439 | $3,295 | $2,990 | $3,379 | $3,007 |