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EXHIBIT 12.1
COMPUTATION OF RATIO OF
EARNINGS TO FIXED CHARGES
(dollars in thousands)
<TABLE>
<CAPTION>
SIX MONTHS ENDED
FISCAL YEAR ENDED JANUARY 31, JULY 31, 2000
---------------------------------------------------------------- -------------
EARNINGS: 1996 1997 1998 1999 2000
--------- -------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
EBIT, as reported $ 55,604 $115,011 $172,638 $230,304 $271,872 $159,826
Add: Portion of lease expense
attributable to interest 2,516 3,387 5,235 9,005 13,131 12,968
-------- -------- -------- -------- -------- --------
Adjusted EBIT 58,120 118,398 177,873 239,309 285,003 172,794
-------- -------- -------- -------- -------- --------
FIXED CHARGES:
--------------
Interest, as reported 20,086 21,522 29,908 44,988 65,965 40,519
Add: Portion of lease expense
attributable to interest 2,516 3,387 5,235 9,005 13,131 12,968
-------- -------- -------- -------- -------- --------
Adjusted Fixed Charges 22,602 24,909 35,143 53,993 79,096 53,487
-------- -------- -------- -------- -------- --------
Ratio of Earnings to Fixed Charges 2.57 4.75 5.06 4.43 3.60 3.23
======== ======== ======== ======== ======== ========
</TABLE>
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