STATEMENT RE COMPUTATION OF RATIOS
Published on June 9, 2003
Exhibit 12 |
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Statement re computation of ratios |
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Three Months Ended |
Fiscal Years Ended |
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4/30/2003 |
4/30/2002 |
2003 |
2002 |
2001 |
2000 |
1999 |
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| Income
before income taxes |
2,878 |
2,537 |
|
12,368 |
10,396 |
9,793 |
9,110 |
7,020 |
|
| Capitalized interest | (31) |
(33) |
(124) |
(130) |
(93) |
(57) |
(41) |
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| Minority interest | (42) |
(41) |
(193) |
(183) |
(129) |
(170) |
(153) |
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| Adjusted
profit before tax |
2,805 |
2,463 |
12,051 |
10,083 |
9,571 |
8,883* |
6,826 |
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| Fixed Charges | |||||||||
| Debt interest | 175 |
223 |
|
1,080 |
1,103 |
777 |
517 |
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| Capital lease interest | 75 |
65 |
260 |
274 |
279 |
266 |
268 |
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| Capitalized interest | 31 |
33 |
124 |
130 |
93 |
57 |
41 |
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| Interest
component of rent |
21 |
22 |
81 |
80 |
84 |
85 |
85 |
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| Total fixed expense | 302 |
342 |
1,264 |
1,564 |
1,559 |
1,185 |
911 |
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| Profit
before taxes and fixed expenses |
3,107 |
2,806 |
13,315 |
11,647 |
11,130 |
10,068 |
7,737 |
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| Fixed charge coverage | 10.28 |
8.20 |
10.54 |
7.44 |
7.14 |
8.50 |
8.49 |
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| *
Does not include the cumulative effect of accounting change recorded by the Company in Fiscal 2000 |
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| Certain reclassifications have been made to prior periods to conform to current presentations. In addition, the impacts of McLane as a discontinued operation have been removed effective for all periods presented. | |||||||||