EX-12 5 rjf-ex12_20140331x10q.htm EX 12 STMT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES & PREF. STK. DIV RJF-EX12_2014.03.31-10Q


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)
 
 
 
 
 
 
 
Six months ended March 31,
 
Year ended September 30,
 
2014
2013
 
2013
2012
2011
2010
2009
Earnings:
 
 
 
 
 
 
 
 
Pre-tax income excluding noncontrolling interests
$
344,388

$
270,164

 
$
564,187

$
471,525

$
461,247

$
361,908

$
248,774

Fixed charges
66,384

70,096

 
140,708

115,992

84,557

81,250

75,369

Less: preferred stock dividends


 





Earnings
$
410,772

$
340,260

 
$
704,895

$
587,517

$
545,804

$
443,158

$
324,143

 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
Interest expense
$
50,746

$
54,618

 
$
109,159

$
90,389

$
65,351

$
62,564

$
56,921

Estimated interest portion within rental expense
15,032

14,872

 
30,337

24,623

18,727

18,399

18,416

Amortization of debt issuance cost
606

606

 
1,212

980

479

287

32

Preferred stock dividends


 





Total fixed charges
$
66,384

$
70,096

 
$
140,708

$
115,992

$
84,557

$
81,250

$
75,369

 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges and preferred stock dividends
6.19

4.85

 
5.01

5.07

6.45

5.45

4.30


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.


140