EX-12.01 6 a06-8685_1ex12d01.htm STATEMENTS REGARDING COMPUTATION OF RATIOS

EXHIBIT 12.01

 

LEHMAN BROTHERS HOLDINGS INC.

 

Computation of Ratios of Earnings to Fixed Charges and
to Combined Fixed Charges and Preferred Stock Dividends
(Unaudited)

 

 

 

Three Months Ended
February 28,

 

Year Ended November 30

 

Dollars in millions

 

2006

 

2005

 

2004

 

2003

 

2002

 

Pre-tax earnings from continuing operations

 

$

1,551

 

$

4,829

 

$

3,518

 

$

2,536

 

$

1,399

 

Add: Fixed charges (excluding capitalized interest)

 

5,870

 

18,040

 

9,773

 

8,724

 

10,709

 

Pre-tax earnings before fixed charges

 

$

7,421

 

$

22,869

 

$

13,291

 

$

11,260

 

$

12,108

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest

 

$

5,846

 

$

17,790

 

$

9,674

 

$

8,640

 

$

10,626

 

Other (1)

 

32

 

125

 

114

 

119

 

103

 

Total fixed charges

 

5,878

 

17,915

 

9,788

 

8,759

 

10,729

 

Preferred stock dividend requirements

 

24

 

101

 

129

 

143

 

155

 

Total combined fixed charges and preferred stock dividends

 

$

5,902

 

$

18,016

 

$

9,917

 

$

8,902

 

$

10,884

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

1.26

 

1.28

 

1.36

 

1.29

 

1.13

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred stock dividends

 

1.26

 

1.27

 

1.34

 

1.26

 

1.11

 

 

(1)          Other fixed charges consist of the interest factor in rentals and capitalized interest.