Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - LEGG MASON, INC. | lm_10qx6302015.htm |
| EX-31.1 - EXHIBIT 31.1 - LEGG MASON, INC. | lm_exhibit311x6302015.htm |
| EX-31.2 - EXHIBIT 31.2 - LEGG MASON, INC. | lm_exhibit312x6302015.htm |
| EX-32.1 - EXHIBIT 32.1 - LEGG MASON, INC. | lm_exhibit321x6302015.htm |
| EX-32.2 - EXHIBIT 32.2 - LEGG MASON, INC. | lm_exhibit322x6302015.htm |
| 10-Q - 10-Q PDF - LEGG MASON, INC. | lm10q6302015.pdf |
Exhibit 12
LEGG MASON, INC. AND SUBSIDIARIES | ||||||||||||||||||||
Computation of Consolidated Ratios of Earnings to Fixed Charges | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Three months ended | Years ended March 31, | |||||||||||||||||||
June 30, 2015 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
Earnings (loss) from operations before income tax provision (benefit) | $ | 120,029 | $ | 367,993 | $ | 419,641 | $ | (510,607 | ) | $ | 303,083 | |||||||||
Fixed Charges: | ||||||||||||||||||||
Interest Expense | 11,895 | 56,782 | 53,492 | 57,903 | 86,236 | |||||||||||||||
Interest on uncertain tax positions included in earnings (loss) from operations before income tax provision (benefit)1 | 54 | 1,492 | (581 | ) | 5,016 | 1,348 | ||||||||||||||
Portion of rental expenses representative of interest factor2 | 9,728 | 38,914 | 38,197 | 41,246 | 41,992 | |||||||||||||||
Earnings (loss) available for fixed charges | $ | 141,706 | $ | 465,181 | $ | 510,749 | $ | (406,442 | ) | $ | 432,659 | |||||||||
Fixed Charges: | ||||||||||||||||||||
Interest Expense | $ | 11,949 | $ | 58,274 | $ | 52,911 | $ | 62,919 | $ | 87,584 | ||||||||||
Interest included in interest expense not related to third party indebtedness1 | (54 | ) | (1,492 | ) | 581 | (5,016 | ) | (1,348 | ) | |||||||||||
Portion of rental expense representative of interest factor2 | 9,728 | 38,914 | 38,197 | 41,246 | 41,992 | |||||||||||||||
Total Fixed Charges | $ | 21,623 | $ | 95,696 | $ | 91,689 | $ | 99,149 | $ | 128,228 | ||||||||||
Consolidated ratio of earnings (loss) to fixed charges | 6.6 | 4.9 | 5.6 | (4.1 | ) | 3.4 | ||||||||||||||
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. |