EX-12 2 ex12-a.htm EXHIBIT 12.(A)

Exhibit 12(a)

Computation of Ratio Earnings to Fixed Charges

(dollars in thousands)

|  | Fiscal Year Ended June 30, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Earnings: |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) before income taxes |  | $ | 62,402 |  |  | $ | 50,174 |  |  | $ | 41,239 |
Unconsolidated affiliates' interests, net |  |  | - |  |  |  | - |  |  |  | - |
Amortization of capitalized interest |  |  | 10 |  |  |  | 10 |  |  |  | 10 |
Interest expense and other related financing costs |  |  | 7,510 |  |  |  | 8,778 |  |  |  | 9,020 |
Interest portion of rent expense (1) |  |  | 9,628 |  |  |  | 9,991 |  |  |  | 10,335 |
Adjusted earnings |  | $ | 79,550 |  |  | $ | 68,953 |  |  | $ | 60,604 |
Fixed Charges: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense and other related financing costs |  | $ | 7,510 |  |  | $ | 8,778 |  |  | $ | 9,020 |
Interest portion of rent expense (1) |  |  | 9,628 |  |  |  | 9,991 |  |  |  | 10,335 |
Total fixed charges |  | $ | 17,138 |  |  | $ | 18,769 |  |  | $ | 19,355 |
Ratio of earnings to fixed charges |  |  | 4.64 |  |  |  | 3.67 |  |  |  | 3.13 |

(1) One-third of rent expense is considered representative of the interest factor within rent expense