Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - PENSON WORLDWIDE INC | d75079e10vq.htm |
| EX-32.2 - EX-32.2 - PENSON WORLDWIDE INC | d75079exv32w2.htm |
| EX-10.3 - EX-10.3 - PENSON WORLDWIDE INC | d75079exv10w3.htm |
| EX-10.2 - EX-10.2 - PENSON WORLDWIDE INC | d75079exv10w2.htm |
| EX-31.1 - EX-31.1 - PENSON WORLDWIDE INC | d75079exv31w1.htm |
| EX-32.1 - EX-32.1 - PENSON WORLDWIDE INC | d75079exv32w1.htm |
| EX-10.6 - EX-10.6 - PENSON WORLDWIDE INC | d75079exv10w6.htm |
| EX-31.2 - EX-31.2 - PENSON WORLDWIDE INC | d75079exv31w2.htm |
| EX-10.7 - EX-10.7 - PENSON WORLDWIDE INC | d75079exv10w7.htm |
| EX-10.4 - EX-10.4 - PENSON WORLDWIDE INC | d75079exv10w4.htm |
| EX-10.8 - EX-10.8 - PENSON WORLDWIDE INC | d75079exv10w8.htm |
| EX-10.5 - EX-10.5 - PENSON WORLDWIDE INC | d75079exv10w5.htm |
Exhibit 12.1
STATEMENTS REGARDING COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
| Three | Six | |||||||||||||||||||||||||||
| Months | Months | |||||||||||||||||||||||||||
| Ended | Ended | |||||||||||||||||||||||||||
| June 30, | June 30, | Year ended December 31, | ||||||||||||||||||||||||||
| (In thousands) | 2010 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||||
Earnings: |
||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes |
$ | (9,544 | ) | $ | (9,320 | ) | $ | 25,836 | $ | 16,649 | $ | 41,958 | $ | 37,578 | $ | 4,678 | ||||||||||||
Fixed charges excluding interest from securities operations |
7,935 | 13,014 | 12,535 | 5,911 | 5,193 | 4,420 | 4,563 | |||||||||||||||||||||
Subtotal |
(1,609 | ) | 3,694 | 38,371 | 22,560 | 47,151 | 41,998 | 9,241 | ||||||||||||||||||||
Interest expense from securities operations |
4,854 | 10,321 | 34,279 | 90,699 | 140,077 | 89,429 | 46,661 | |||||||||||||||||||||
Total |
$ | 3,245 | $ | 14,015 | $ | 72,650 | $ | 113,259 | $ | 187,228 | $ | 131,427 | $ | 55,902 | ||||||||||||||
Fixed charges: |
||||||||||||||||||||||||||||
Interest expense on long-term debt |
$ | 7,429 | $ | 11,984 | $ | 10,344 | $ | 3,854 | $ | 2,894 | $ | 2,951 | $ | 3,123 | ||||||||||||||
Interest factor in rents and other interest-bearing liabilities |
506 | 1,030 | 2,191 | 2,057 | 2,299 | 1,469 | 1,440 | |||||||||||||||||||||
Subtotal |
7,935 | 13,014 | 12,535 | 5,911 | 5,193 | 4,420 | 4,563 | |||||||||||||||||||||
Interest expense from securities operations |
4,854 | 10,321 | 34,279 | 90,699 | 140,077 | 89,429 | 46,661 | |||||||||||||||||||||
Total |
$ | 12,789 | $ | 23,335 | $ | 46,814 | $ | 96,610 | $ | 145,270 | $ | 93,849 | $ | 51,224 | ||||||||||||||
Ratio of earnings to fixed charges: |
||||||||||||||||||||||||||||
Including interest expense from securities operations |
0.3 | 0.6 | 1.6 | 1.2 | 1.3 | 1.4 | 1.1 | |||||||||||||||||||||
Excluding interest expense from securities operations |
(a | ) | 0.3 | 3.1 | 3.8 | 9.1 | 9.5 | 2.0 | ||||||||||||||||||||
| (a) | Earnings were inadequate to cover fixed charges by $1.6 million for the three months ended June 30, 2010. |