STATEMENT RE COMPUTATION OF RATIOS
Published on December 11, 2003
Exhibit 12 |
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Statement re computation of ratios |
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Nine Months Ended |
Fiscal Years Ended |
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10/31/2003 |
10/31/2002 |
2003 |
2002 |
2001 |
2000 |
1999 |
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| Income before income taxes | 9,648 |
8,482 |
|
12,368 |
10,396 |
9,783 |
9,110 |
7,020 |
|
| Capitalized interest | (93) |
(98) |
(124) |
(130) |
(93) |
(57) |
(41) |
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| Minority interest | (131) |
(129) |
(193) |
(183) |
(129) |
(170) |
(153) |
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| Adjusted profit before tax | 9,424 |
8,255 |
12,051 |
10,083 |
9,561 |
8,883* |
6,826 |
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| Fixed Charges | |||||||||
| Debt interest | 539 |
617 |
799 |
1,080 |
1,103 |
777 |
517 |
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| Capital lease interest | 202 |
189 |
260 |
274 |
279 |
266 |
268 |
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| Capitalized interest | 93 |
98 |
124 |
130 |
93 |
57 |
41 |
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| Interest component of rent | 67 |
66 |
81 |
77 |
47 |
43 |
52 |
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| Total fixed expense | 901 |
970 |
1,264 |
1,561 |
1,522 |
1,143 |
878 |
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| Profit
before taxes and fixed expenses |
10,325 |
9,225 |
13,315 |
11,644 |
11,083 |
10,026 |
7,704 |
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| Fixed charge coverage | 11.46 |
9.51 |
10.53 |
7.46 |
7.28 |
8.77 |
8.77 |
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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. | |||||||||