Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - PENSON WORLDWIDE INC | d82535e10vq.htm |
| EX-32.1 - EX-32.1 - PENSON WORLDWIDE INC | d82535exv32w1.htm |
| EX-32.2 - EX-32.2 - PENSON WORLDWIDE INC | d82535exv32w2.htm |
| EX-31.1 - EX-31.1 - PENSON WORLDWIDE INC | d82535exv31w1.htm |
| EX-31.2 - EX-31.2 - PENSON WORLDWIDE INC | d82535exv31w2.htm |
| EXCEL - IDEA: XBRL DOCUMENT - PENSON WORLDWIDE INC | Financial_Report.xls |
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) | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||||
Earnings: |
||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes |
$ | (48,659 | ) | $ | (53,274 | ) | $ | (29,216 | ) | $ | 25,836 | $ | 16,649 | $ | 41,958 | $ | 37,578 | |||||||||||
Fixed charges excluding interest from securities operations |
10,473 | 20,913 | 33,310 | 12,535 | 5,911 | 5,193 | 4,420 | |||||||||||||||||||||
Subtotal |
(38,186 | ) | (32,361 | ) | 4,094 | 38,371 | 22,560 | 47,151 | 41,998 | |||||||||||||||||||
Interest expense from securities operations |
8,999 | 17,253 | 22,269 | 34,279 | 90,699 | 140,077 | 89,429 | |||||||||||||||||||||
Total |
$ | (29,187 | ) | $ | (15,108 | ) | $ | 26,363 | $ | 72,650 | $ | 113,259 | $ | 187,228 | $ | 131,427 | ||||||||||||
Fixed charges: |
||||||||||||||||||||||||||||
Interest expense on long-term debt |
$ | 9,787 | $ | 19,498 | $ | 30,829 | $ | 10,344 | $ | 3,854 | $ | 2,894 | $ | 2,951 | ||||||||||||||
Interest factor in rents and other interest-bearing liabilities |
686 | 1,415 | 2,481 | 2,191 | 2,057 | 2,299 | 1,469 | |||||||||||||||||||||
Subtotal |
10,473 | 20,913 | 33,310 | 12,535 | 5,911 | 5,193 | 4,420 | |||||||||||||||||||||
Interest expense from securities operations |
8,999 | 17,253 | 22,269 | 34,279 | 90,699 | 140,077 | 89,429 | |||||||||||||||||||||
Total |
$ | 19,472 | $ | 38,166 | $ | 55,579 | $ | 46,814 | $ | 96,610 | $ | 145,270 | $ | 93,849 | ||||||||||||||
Ratio of earnings to fixed charges: |
||||||||||||||||||||||||||||
Including interest expense from securities operations |
(a | ) | (a | ) | 0.5 | 1.6 | 1.2 | 1.3 | 1.4 | |||||||||||||||||||
Excluding interest expense from securities operations |
(b | ) | (b | ) | 0.1 | 3.1 | 3.8 | 9.1 | 9.5 | |||||||||||||||||||
| (a) | Earnings were inadequate to cover fixed charges by $29.2 million and $15.1 million for the three and six months ended June 30, 2011. | |
| (b) | Earnings were inadequate to cover fixed charges excluding interest expense from securities operations by $38.2 million and $32.4 million for the three and six months ended June 30, 2011. |