Attached files
| file | filename |
|---|---|
| EX-32 - EX-32 - Jefferies Group LLC | exhibit32022916.htm |
| EX-31.2 - EX-31.2 - Jefferies Group LLC | exhibit312022916.htm |
| EX-31.1 - EX-31.1 - Jefferies Group LLC | exhibit311022916.htm |
| 10-Q - 10-Q - Jefferies Group LLC | jef10q22916.htm |
Exhibit 12
JEFFERIES GROUP LLC
Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
(Dollar amounts in thousands)
Successor | Predecessor | ||||||||||||||||||||||||||||
Three Months Ended February 29, 2016 | Twelve Months Ended November 30, 2015 | Twelve Months Ended November 30, 2014 | Nine Months Ended November 30, 2013 | Three Months Ended February 28, 2013 | Twelve Months Ended November 30, 2012 | Twelve Months Ended November 30, 2011 | |||||||||||||||||||||||
Fixed Charges: | |||||||||||||||||||||||||||||
Interest expense on long-term indebtedness | $ | 59,467 | $ | 250,101 | $ | 250,424 | $ | 184,954 | $ | 79,918 | $ | 292,987 | $ | 280,046 | |||||||||||||||
Interest portion of rent expense | 4,628 | 19,136 | 19,130 | 14,400 | 4,024 | 16,137 | 14,774 | ||||||||||||||||||||||
Total fixed charges | $ | 64,095 | $ | 269,237 | $ | 269,554 | $ | 199,354 | $ | 83,942 | $ | 309,124 | $ | 294,820 | |||||||||||||||
Convertible Preferred Stock Dividends | $ | — | $ | — | $ | — | $ | — | $ | 1,016 | $ | 4,063 | $ | 4,063 | |||||||||||||||
Earnings: | |||||||||||||||||||||||||||||
Earnings before income taxes | $ | (249,876 | ) | $ | 114,227 | $ | 303,021 | $ | 264,295 | $ | 139,487 | $ | 491,795 | $ | 419,334 | ||||||||||||||
Total fixed charges | 64,095 | 269,237 | 269,554 | 199,354 | 83,942 | 309,124 | 294,820 | ||||||||||||||||||||||
Total earnings before income taxes and fixed charges | $ | (185,781 | ) | $ | 383,464 | $ | 572,575 | $ | 463,649 | $ | 223,429 | $ | 800,919 | $ | 714,154 | ||||||||||||||
Ratio of Earnings to Fixed Charges (1) | * | 1.4 | x | 2.1 | x | 2.3 | x | 2.7 | x | 2.6 | x | 2.4 | x | ||||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Convertible Preferred Stock Dividends (2) | * | 1.4 | x | 2.1 | x | 2.3 | x | 2.6 | x | 2.6 | x | 2.4 | x | ||||||||||||||||
* Earnings for the three months ended February 29, 2016 were insufficient to cover fixed charges by approximately $185.8
million.
(1) | The ratio of earnings to fixed charges is computed by dividing (a) income from continuing operations before income taxes plus fixed charges by (b) fixed charges. Fixed charges consist of interest expense on all long-term indebtedness and the portion of operating lease rental expense that is representative of the interest factor (deemed to be one-third of operating lease rentals). |
(2) | The ratio of earnings to combined fixed charges and preferred dividends is computed by dividing (a) income from continuing operations before income taxes plus fixed charges by the sum of (b) fixed charges and (c) convertible preferred stock dividends. Fixed charges consist of interest expense on all long-term indebtedness and the portion of operating lease rental expense that is representative of the interest factor (deemed to be one-third of operating lease rentals.) |