Attached files
| file | filename |
|---|---|
| EX-31 - EXHIBIT 31 - HSBC Finance Corp | hbio33115ex31.htm |
| EX-32 - EXHIBIT 32 - HSBC Finance Corp | hbio33115ex32.htm |
| EXCEL - IDEA: XBRL DOCUMENT - HSBC Finance Corp | Financial_Report.xls |
| 10-Q - 10-Q - HSBC Finance Corp | hbio3311510-q.htm |
EXHIBIT 12
HSBC FINANCE CORPORATION
COMPUTATION OF RATIO OF EARNINGS (LOSS) TO FIXED CHARGES AND TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Three Months Ended March 31 | 2015 | 2014 | |||||
(dollars are in millions) | |||||||
Income (loss) from continuing operations | $ | (5 | ) | $ | 112 | ||
Income tax benefit | 28 | 17 | |||||
Income (loss) from continuing operations before income tax expense | (33 | ) | 95 | ||||
Fixed charges: | |||||||
Interest expense | 248 | 274 | |||||
Interest portion of rentals(1) | 1 | 1 | |||||
Total fixed charges | 249 | 275 | |||||
Total earnings from continuing operations as defined | $ | 216 | $ | 370 | |||
Ratio of earnings to fixed charges | .87 | 1.35 | |||||
Preferred stock dividends(2) | $ | 49 | $ | 48 | |||
Ratio of earnings to combined fixed charges and preferred stock dividends | .72 | 1.15 | |||||
(1) | Represents one-third of rentals, which approximates the portion representing interest. |
(2) | Preferred stock dividends are grossed up to their pretax equivalents. |