Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - FBR & Co. | Financial_Report.xls |
| EX-32.01 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. SECTION 1350 - FBR & Co. | d329445dex3201.htm |
| EX-32.02 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C. SECTION 1350 - FBR & Co. | d329445dex3202.htm |
| EX-31.01 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO RULE 13A-14(A) - FBR & Co. | d329445dex3101.htm |
| EX-31.02 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO RULE 13A-14(A) - FBR & Co. | d329445dex3102.htm |
| 10-Q - FORM 10-Q - FBR & Co. | d329445d10q.htm |
Exhibit 12.01
FBR & CO. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
| Three months ended March 31, 2012 |
Year ended December 31, | |||||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||
| Pre-tax income (loss) from continuing operations adjusted to exclude income or loss from equity investees |
$ | 459 | $ | (49,533 | ) | $ | (41,544 | ) | $ | (29,645 | ) | $ | (192,665 | ) | $ | 25,707 | ||||||||
| Fixed charges: |
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| Interest expense on all indebtedness |
— | — | — | 252 | 12,457 | 5,337 | ||||||||||||||||||
| Rental expense deemed to be interest |
777 | 2,793 | 3,105 | 4,645 | 4,614 | 4,625 | ||||||||||||||||||
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| Total fixed charges |
$ | 777 | $ | 2,793 | $ | 3,105 | $ | 4,897 | $ | 17,071 | $ | 9,962 | ||||||||||||
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| Pre-tax income (loss) from continuing operations adjusted to exclude income or loss from equity investees plus fixed charges |
$ | 1,236 | $ | (46,740 | ) | $ | (38,438 | ) | $ | (24,748 | ) | $ | (175,594 | ) | $ | 35,669 | ||||||||
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| Ratio of earnings to fixed charges(1) |
1.6x | — | (2) | — | (2) | — | (2) | — | (2) | 3.6x | ||||||||||||||
| (1) | The ratio of earnings to fixed charges was computed by dividing earnings available for fixed charges by fixed charges. Fixed charges consist of interest expense primarily related to collateralized financing transactions and short-term borrowings, and the interest portion of operating lease rental expense (interest factor deemed to be one-third of operating lease rental expense). |
| (2) | Pre-tax (loss) income from continuing operations adjusted to exclude income or loss from equity investees for the years ended December 31, 2011, 2010, 2009, and 2008 were inadequate to cover total fixed charges. For the years ended December 31, 2011, 2010, 2009 and 2008, we would have needed additional pre-tax income from continuing operations adjusted to exclude income or loss from equity investees of $49,533, $41,544, $29,645, and $192,665, respectively to achieve coverage of 1:1 in these periods. |