EX-12.(A) 6 ex12-a.htm EXHIBIT 12.(A)

Exhibit 12(a)

Computation of Ratio Earnings to Fixed Charges

(dollars in thousands)

|  | Fiscal Year Ended June 30, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Earnings: |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) before income taxes |  | $ | 56,683 |  |  | $ | 62,402 |  |  | $ | 50,174 |
Unconsolidated affiliates' interests, net |  |  | - |  |  |  | - |  |  |  | - |
Amortization of capitalized interest |  |  | 10 |  |  |  | 10 |  |  |  | 10 |
Interest expense and other related financing costs |  |  | 5,918 |  |  |  | 7,510 |  |  |  | 8,778 |
Interest portion of rent expense (1) |  |  | 10,460 |  |  |  | 9,628 |  |  |  | 9,991 |
Adjusted earnings |  | $ | 73,071 |  |  | $ | 79,550 |  |  | $ | 68,953 |
Fixed Charges: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense and other related financing costs |  | $ | 5,918 |  |  | $ | 7,510 |  |  | $ | 8,778 |
Interest portion of rent expense (1) |  |  | 10,460 |  |  |  | 9,628 |  |  |  | 9,991 |
Total fixed charges |  | $ | 16,378 |  |  | $ | 17,138 |  |  | $ | 18,769 |
Ratio of earnings to fixed charges |  |  | 4.46 |  |  |  | 4.64 |  |  |  | 3.67 |

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