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Exhibit 12
IKON RECEIVABLES LLC
RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
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Fiscal Year Ended Fiscal Year Ended
September 30, 2000 September 30, 1999
2000 1999
<S> <C> <C>
Earnings
Income from continuing operations $ 66,113 $17,574
Add:
Fixed charges 82,431 14,702
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Earnings, as adjusted (A) $148,544 $32,276
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Fixed charges
Other interest expense, including
Interest on capital leases (B) $ 82,431 $14,702
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Ratio of earnings to fixed charges
(A) divided by (B) 1.8 2.2
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