EX-12 2 exhibit12113015.htm EX-12 Exhibit


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
 
Year 
 Ended 
 November 30, 
 2015
 
Year
Ended November 30, 2014
 
Nine Months 
 Ended 
 November 30, 
 2013
 
 
Three Months Ended February 28, 2013
 
Year
Ended November 30, 2012
 
Year
Ended November 30, 2011
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense on
  long-term
  indebtedness
$
250,101

 
$
250,424

 
$
184,954

 
 
$
79,918

 
$
292,987

 
$
280,046

  
Interest portion of
  rent expense
19,136

 
19,130

 
14,400

 
 
4,024

 
16,137

 
14,774

  
Total fixed charges
$
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
$
114,227

 
$
303,021

 
$
264,295

 
 
$
139,487

 
$
491,795

 
$
419,334

  
Total fixed charges
269,237

 
269,554

 
199,354

 
 
83,942

 
309,124

 
294,820

  
Total earnings before
  income taxes and
  fixed charges
$
383,464

 
$
572,575

 
$
463,649

 
 
$
223,429

 
$
800,919

 
$
714,154

  
Ratio of Earnings to
  Fixed Charges (1)
1.4

 
2.1

 
2.3

 
 
2.7

 
2.6

 
2.4

 
Ratio of Earnings to
   Combined Fixed
   Charges and
   Convertible
   Preferred Stock
   Dividends (2)
1.4

 
2.1

 
2.3

 
 
2.6

 
2.6

 
2.4

 
 
(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.)