Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - TD AMERITRADE HOLDING CORP | c54837e8vk.htm |
| EX-4.1 - EX-4.1 - TD AMERITRADE HOLDING CORP | c54837exv4w1.htm |
| EX-1.1 - EX-1.1 - TD AMERITRADE HOLDING CORP | c54837exv1w1.htm |
| EX-5.1 - EX-5.1 - TD AMERITRADE HOLDING CORP | c54837exv5w1.htm |
| EX-10.1 - EX-10.1 - TD AMERITRADE HOLDING CORP | c54837exv10w1.htm |
Exhibit 12.1
TD AMERITRADE Holding Corporation
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
(Unaudited)
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
(Unaudited)
| Fiscal Year Ended September 30, 2009 | ||||||||||||
| Pro Forma | ||||||||||||
| Actual | Adjustments (3) | Pro Forma | ||||||||||
Determination of earnings: |
||||||||||||
Pre-tax income |
$ | 1,059,404 | $ | (27,189 | ) | $ | 1,032,215 | |||||
Fixed charges |
68,773 | 27,189 | 95,962 | |||||||||
Earnings before income
taxes and fixed
charges (A) |
$ | 1,128,177 | $ | — | $ | 1,128,177 | ||||||
Fixed charges: |
||||||||||||
Interest on borrowings (1) |
$ | 40,070 | $ | 27,189 | $ | 67,259 | ||||||
Brokerage interest expense |
15,166 | — | 15,166 | |||||||||
Interest portion of rent expense |
13,537 | — | 13,537 | |||||||||
Total fixed charges (B) |
$ | 68,773 | $ | 27,189 | $ | 95,962 | ||||||
Ratio of earnings to fixed charges (A) ÷ (B) |
16.4 | x | 11.8 | x | ||||||||
Ratio of earnings to fixed charges, excluding
brokerage interest expense (2) |
20.8 | x | 13.8 | x | ||||||||
| (1) | Interest on borrowings includes amortization of capitalized debt issuance costs. | |
| (2) | Because interest expense incurred in connection with brokerage activities is completely offset by brokerage interest revenue, the Company considers such interest to be a reduction of net revenues. Accordingly, the ratio of earnings to fixed charges, excluding brokerage interest expense, reflects the elimination of such interest expense from fixed charges. | |
| (3) | The ratio of earnings to fixed charges for the fiscal year ended September 30, 2009 has been adjusted on a pro forma basis to give effect to the offer and sale of the $1,250 million aggregate principal amount of the notes offered hereby and the use of the net proceeds to repay the Company’s existing senior secured term loan facilities as if such events occurred on October 1, 2008. |