EX-12.1 7 a04-3218_1ex12d1.htm EX-12.1

Exhibit 12.1

 

The Nasdaq Stock Market, Inc.
Computation in Support of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
Unaudited

 

 

 

Years ended December 31,

 

 

 

2003

 

2002

 

2001

 

2000

 

1999

 

Pre-tax (loss) income from continuing operations (less minority interests)

 

$

(66,352

)*

$

105,942

 

$

97,542

 

$

46,868

** 

$

144,570

 

Add: Fixed Charges

 

19,042

 

18,958

 

9,955

 

2,778

 

2,143

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax (loss) earnings before fixed charges

 

(47,310

)

124,900

 

107,497

 

49,646

 

146,713

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest

 

18,555

 

18,488

 

9,777

 

2,778

 

2,143

 

Other

 

487

 

470

 

178

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Charges

 

19,042

 

18,958

 

9,955

 

2,778

 

2,143

 

Preferred Stock Dividend Requirements

 

8,279

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Combined Fixed Charges and Preferred Dividends

 

$

27,321

 

$

18,958

 

$

9,955

 

$

2,778

 

$

2,143

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

(2.48

)*

6.59

 

10.80

 

17.87

 

68.46

 

Ratio of Earnings to Fixed Charges & Preferred Stock Dividends

 

(1.73

)*

6.59

 

10.80

 

17.87

 

68.46

 

 

*                      Includes costs of $97,910 associated with Nasdaq’s strategic review.

**               Adjusted for cumulative effect of change in accounting principle of $169,046.