Attached files
| file | filename |
|---|---|
| XML - IDEA: XBRL DOCUMENT - LEGG MASON, INC. | R9999.htm |
| 10-Q - 10-Q - LEGG MASON, INC. | lm_10qx6302014.htm |
| EX-31.1 - LM_EXHIBIT 31.1 - LEGG MASON, INC. | lm_exhibit311x6302014.htm |
| EX-31.2 - LM_EXHIBIT 31.2 - LEGG MASON, INC. | lm_exhibit312x6302014.htm |
| EX-32.1 - LM_EXHIBIT 32.1 - LEGG MASON, INC. | lm_exhibit321x6302014.htm |
| EX-32.2 - LM_EXHIBIT 32.2 - LEGG MASON, INC. | lm_exhibit322x6302014.htm |
| 10-Q - 10-Q PDF - LEGG MASON, INC. | lm10q6302014.pdf |
| EXCEL - IDEA: XBRL DOCUMENT - LEGG MASON, INC. | Financial_Report.xls |
Exhibit 12
LEGG MASON, INC. AND SUBSIDIARIES
Computation of Consolidated Ratios of Earnings to Fixed Charges
(Dollars in thousands)
Three Months Ended June 30, | Years ended March 31, | |||||||||||||||||||
2014 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
Earnings (loss) from operations before income tax provision (benefit) | $ | 114,268 | $ | 419,641 | $ | (510,607 | ) | $ | 303,083 | $ | 365,197 | |||||||||
Fixed Charges: | ||||||||||||||||||||
Interest Expense | 16,740 | 53,492 | 57,903 | 86,236 | 89,598 | |||||||||||||||
Interest on uncertain tax positions included in earnings (loss) from operations before income tax provision (benefit)1 | 318 | (581 | ) | 5,016 | 1,348 | 2,559 | ||||||||||||||
Portion of rental expenses representative of interest factor2 | 9,549 | 38,197 | 41,246 | 41,992 | 42,074 | |||||||||||||||
Earnings (loss) available for fixed charges | $ | 140,875 | $ | 510,749 | $ | (406,442 | ) | $ | 432,659 | $ | 499,428 | |||||||||
Fixed Charges: | ||||||||||||||||||||
Interest Expense | $ | 17,058 | $ | 52,911 | $ | 62,919 | $ | 87,584 | $ | 92,157 | ||||||||||
Interest included in interest expense not related to third party indebtedness1 | (318 | ) | 581 | (5,016 | ) | (1,348 | ) | (2,559 | ) | |||||||||||
Portion of rental expense representative of interest factor2 | 9,549 | 38,197 | 41,246 | 41,992 | 42,074 | |||||||||||||||
Total Fixed Charges | $ | 26,289 | $ | 91,689 | $ | 99,149 | $ | 128,228 | $ | 131,672 | ||||||||||
Consolidated ratio of earnings (loss) to fixed charges | 5.4 | 5.6 | (4.1 | ) | 3.4 | 3.8 | ||||||||||||||
1) | The portion of interest related to uncertain tax positions is excluded from the calculation. |
2) | The portion of rental expense representative of interest factor is calculated as one third of the total of Rent, Market Data Services, Maintenance, DP Service Bureau and Equipment Rental expenses. |