Attached files
file | filename |
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10-K - FORM 10-K - MERRILL LYNCH & CO., INC. | y89676e10vk.htm |
EX-32.1 - EX-32.1 - MERRILL LYNCH & CO., INC. | y89676exv32w1.htm |
EX-24.2 - EX-24.2 - MERRILL LYNCH & CO., INC. | y89676exv24w2.htm |
EX-31.1 - EX-31.1 - MERRILL LYNCH & CO., INC. | y89676exv31w1.htm |
EX-32.2 - EX-32.2 - MERRILL LYNCH & CO., INC. | y89676exv32w2.htm |
EX-23.2 - EX-23.2 - MERRILL LYNCH & CO., INC. | y89676exv23w2.htm |
EX-23.1 - EX-23.1 - MERRILL LYNCH & CO., INC. | y89676exv23w1.htm |
EX-31.2 - EX-31.2 - MERRILL LYNCH & CO., INC. | y89676exv31w2.htm |
EX-24.1 - EX-24.1 - MERRILL LYNCH & CO., INC. | y89676exv24w1.htm |
EX-23.3 - EX-23.3 - MERRILL LYNCH & CO., INC. | y89676exv23w3.htm |
EXHIBIT 12
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in millions)
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in millions)
Successor Company | Predecessor Company | ||||||||||||||||||||
Year Ended | Year Ended | Years Ended | |||||||||||||||||||
December 31, | December 31, | December 26, | December 28, | December 29, | |||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||
Pre-tax earnings (loss) (a)
|
$ | 2,708 | $ | 6,455 | $ | (45,438 | ) | $ | (13,723 | ) | $ | 9,313 | |||||||||
Add: Fixed charges (excluding |
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capitalized interest and preferred |
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security
dividend requirements of
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subsidiaries)
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9,935 | 12,341 | 29,641 | 51,683 | 35,719 | ||||||||||||||||
Pre-tax earnings before fixed charges
|
$ | 12,643 | $ | 18,796 | $ | (15,797 | ) | $ | 37,960 | $ | 45,032 | ||||||||||
Fixed charges: |
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Interest
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$ | 9,621 | $ | 12,041 | $ | 29,349 | $ | 51,425 | $ | 35,499 | |||||||||||
Other (b)
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314 | 300 | 292 | 258 | 220 | ||||||||||||||||
Total fixed charges
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$ | 9,935 | $ | 12,341 | $ | 29,641 | $ | 51,683 | $ | 35,719 | |||||||||||
Preferred stock dividend requirements
|
140 | 141 | 4,356 | 401 | 259 | ||||||||||||||||
Total combined fixed charges
and |
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preferred stock dividends
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$ | 10,075 | $ | 12,482 | $ | 33,997 | $ | 52,084 | $ | 35,978 | |||||||||||
Ratio of earnings to fixed charges
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1.27 | 1.52 | * | * | 1.26 | ||||||||||||||||
Ratio of earnings to combined fixed
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charges
and preferred stock
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dividends
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1.25 | 1.51 | * | * | 1.25 |
(a) | Excludes undistributed earnings (loss) from equity investments and earnings from discontinued operations. | |
(b) | Other fixed charges consist of the interest factor in rentals, amortization of debt issuance costs and preferred security dividend requirements of subsidiaries. | |
* | The earnings for the years ended 2008 and 2007 were inadequate to cover total fixed charges and preferred stock dividends. | |
The coverage deficiencies for total fixed charges for the years ended 2008 and 2007 were $45,438 and $13,723, respectively. | ||
The coverage deficiencies for total fixed charges and preferred stock dividends for the years ended 2008 and 2007 were $49,794 and $14,124, respectively. |