EX-12 2 exhibit12.htm EXHIBIT 12

EXHIBIT 12

Statement regarding computation of ratio of earnings to fixed charges

|  | Year ended June 30, |
|  | 2018 |  |  |  | 2017 |  |  |  | 2016 |  |  |  | 2015 |  |  |  | 2014 |
|  | (in thousands, except for ratio of earnings to fixed charges) |
Fixed charges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expensed and capitalized | $ | 8,941 |  |  | $ | 3,484 |  |  | $ | 3,423 |  |  | $ | 4,456 |  |  | $ | 7,473 |
Amortized premiums, discounts and capitalized expenses related to indebtedness |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Estimate of the interest within rental expense |  | 1,155 |  |  |  | 933 |  |  |  | 755 |  |  |  | 650 |  |  |  | 709 |
Preference security dividend requirements of consolidated subsidiaries |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Fixed charges |  | 10,096 |  |  |  | 4,417 |  |  |  | 4,178 |  |  |  | 5,106 |  |  |  | 8,182 |
Earnings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Add |  | 114,573 |  |  |  | 118,873 |  |  |  | 130,415 |  |  |  | 145,524 |  |  |  | 117,324 |
Pretax income from continuing operations before adjustment for non-controlling interests in consolidated subsidiaries or income or loss from equity investees |  | 100,366 |  |  |  | 114,456 |  |  |  | 126,237 |  |  |  | 140,418 |  |  |  | 109,142 |
Fixed charges |  | 10,096 |  |  |  | 4,417 |  |  |  | 4,178 |  |  |  | 5,106 |  |  |  | 8,182 |
Amortization of capitalized interest |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Distributed income of equity investees |  | 4,111 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Your share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Less |  | 304 |  |  |  | 2,359 |  |  |  | 362 |  |  |  | 328 |  |  |  | - |
Interest capitalized Preference security dividend requirements of consolidated subsidiaries Non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges |  | 304 |  |  |  | 2,359 |  |  |  | 362 |  |  |  | 328 |  |  |  |  |
Earnings | $ | 114,269 |  |  | $ | 116,514 |  |  | $ | 130,053 |  |  | $ | 145,196 |  |  | $ | 117,324 |
Ratio of earnings to fixed charges |  | 11.32 |  |  |  | 26.38 |  |  |  | 31.13 |  |  |  | 28.44 |  |  |  | 14.34 |