EX-12.1 2 rjf-ex121_20130630x10q.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES & PREF. STK. DIV RJF-EX12.1_2013.06.30-10Q


EXHIBIT 12.1

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)
 
 
 
 
 
 
 
Nine months ended June 30,
 
Year ended September 30,
 
2013
2012
 
2012
2011
2010
2009
2008
Earnings:
 
 
 
 
 
 
 
 
Pre-tax income excluding noncontrolling interests
$
402,218

$
347,218

 
$
471,525

$
461,247

$
361,908

$
248,774

$
386,854

Fixed charges
106,006

80,937

 
115,992

84,557

81,250

75,369

409,300

Less: preferred stock dividends


 





 
 
 
 
 
 
 
 
 
Earnings
$
508,224

$
428,155

 
$
587,517

$
545,804

$
443,158

$
324,143

$
796,154

 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
Interest expense
$
82,507

$
62,840

 
$
90,389

$
65,351

$
62,564

$
56,921

$
392,229

Estimated interest portion within rental expense
22,590

17,427

 
24,623

18,727

18,399

18,416

17,071

Amortization of debt issuance cost
909

670

 
980

479

287

32


Preferred stock dividends


 





 
 
 
 
 
 
 
 
 
Total fixed charges
$
106,006

$
80,937

 
$
115,992

$
84,557

$
81,250

$
75,369

$
409,300

 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges and preferred stock dividends
4.79

5.29

 
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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