Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
| Fiscal Years Ended June 30, | ||||||||||||||||||||
| 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
| ($ in millions) | ||||||||||||||||||||
| Earnings: |
||||||||||||||||||||
| Add: |
||||||||||||||||||||
| Earnings from continuing operations before income taxes |
$ | 200.9 | $ | 269.7 | $ | 342.1 | $ | 346.0 | $ | 319.7 | ||||||||||
| Fixed charges |
28.4 | 25.7 | 24.1 | 26.8 | 44.0 | |||||||||||||||
| Amortization of capitalized interest |
— | — | — | — | — | |||||||||||||||
| Distributed income from equity investees |
— | — | — | — | — | |||||||||||||||
| Share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges |
— | — | — | — | — | |||||||||||||||
| Less: |
||||||||||||||||||||
| Interest capitalized |
— | — | — | — | — | |||||||||||||||
| Preference security dividend requirements of consolidated subsidiaries |
— | — | — | — | — | |||||||||||||||
| The minority interest in the pre-tax income/(loss) of subsidiaries that have not incurred fixed charges(2) |
(0.7 | ) | (0.2 | ) | 1.0 | 2.5 | (0.2 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total |
$ | 230.0 | $ | 295.6 | $ | 365.2 | $ | 370.3 | $ | 363.9 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Fixed charges: |
||||||||||||||||||||
| Interest expense |
$ | 14.0 | $ | 9.9 | $ | 9.8 | $ | 14.3 | $ | 31.3 | ||||||||||
| Amortized premiums, discounts and capitalized expenses related to indebtedness |
— | — | — | — | — | |||||||||||||||
| Estimate of the interest within rental expense(1) |
14.4 | 15.8 | 14.3 | 12.5 | 12.7 | |||||||||||||||
| Preference security dividend requirements of consolidated subsidiaries |
— | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total |
$ | 28.4 | $ | 25.7 | $ | 24.1 | $ | 26.8 | $ | 44.0 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Ratio of Earnings to Fixed Charges |
8.1 | 11.5 | 15.2 | 13.8 | 8.3 | |||||||||||||||
| (1) | One-third of rental expense under operating leases is assumed to be the equivalent of interest. |
| (2) | Represents the Company’s share of gains/(losses) from its joint venture with the Tokyo Stock Exchange. |