EX-12 3 rjf-ex121_2012930x10k.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS RJF-EX12_2012.9.30-10K

EXHIBIT 12

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(in thousands, except ratio of earnings to fixed charges and preferred stock dividends)
 
 
 
 
Year ended September 30,
 
2012
2011
2010
2009
2008
Earnings:
 
 
 
 
 
Pre-tax income excluding noncontrolling interests
$
471,525

$
461,247

$
361,908

$
248,774

$
386,854

Fixed charges
115,992

84,557

81,250

75,369

409,300

Less: preferred stock dividends
—

—

—

—

—

 
 
 
 
 
 
Earnings
$
587,517

$
545,804

$
443,158

$
324,143

$
796,154

 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
Interest expense
$
90,389

$
65,351

$
62,564

$
56,921

$
392,229

Estimated interest portion within rental expense
24,623

18,727

18,399

18,416

17,071

Amortization of debt issuance cost
980

479

287

32

—

Preferred stock dividends
—

—

—

—

—

 
 
 
 
 
 
Total fixed charges
$
115,992

$
84,557

$
81,250

$
75,369

$
409,300

 
 
 
 
 
 
Ratio of earnings to fixed charges and preferred stock dividends
5.07

6.45

5.45

4.30

1.95


We calculated our ratio of earnings to fixed charges and preferred stock dividends by adding pre-tax income excluding noncontrolling interests, plus fixed charges minus preferred stock dividends and dividing that sum by our fixed charges. Our fixed charges for this ratio consist of interest expense, the portion of our rental expense deemed to represent interest (calculated as one third of rental expense), amortization of debt issuance costs and preferred stock dividends.

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