Attached files
| file | filename |
|---|---|
| EX-32 - EX-32 - Jefferies Group LLC | exhibit32083117.htm |
| EX-31.2 - EX-31.2 - Jefferies Group LLC | exhibit312083117.htm |
| EX-31.1 - EX-31.1 - Jefferies Group LLC | exhibit311083117.htm |
| 10-Q - 10-Q - Jefferies Group LLC | jef10q83117.htm |
Exhibit 12
JEFFERIES GROUP LLC
Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
(Dollar amounts in thousands)
Successor | Predecessor | |||||||||||||||||||||||||||
Nine Months Ended August 31, 2017 | Year Ended November 30, 2016 | Year Ended November 30, 2015 | Year Ended November 30, 2014 | Nine Months Ended November 30, 2013 | Three Months Ended February 28, 2013 | Year Ended November 30, 2012 | ||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense on long-term indebtedness | $ | 204,590 | $ | 235,024 | $ | 250,101 | $ | 250,424 | $ | 184,954 | $ | 79,918 | $ | 292,987 | ||||||||||||||
Interest portion of rent expense | 13,122 | 18,704 | 19,136 | 19,130 | 14,400 | 4,024 | 16,137 | |||||||||||||||||||||
Total fixed charges | $ | 217,712 | $ | 253,728 | $ | 269,237 | $ | 269,554 | $ | 199,354 | $ | 83,942 | $ | 309,124 | ||||||||||||||
Convertible Preferred Stock Dividends | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,016 | $ | 4,063 | ||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Earnings before income taxes | $ | 362,644 | $ | 29,972 | $ | 114,227 | $ | 303,021 | $ | 264,295 | $ | 139,487 | $ | 491,795 | ||||||||||||||
Total fixed charges | 217,712 | 253,728 | 269,237 | 269,554 | 199,354 | 83,942 | 309,124 | |||||||||||||||||||||
Total earnings before income taxes and fixed charges | $ | 580,356 | $ | 283,700 | $ | 383,464 | $ | 572,575 | $ | 463,649 | $ | 223,429 | $ | 800,919 | ||||||||||||||
Ratio of Earnings to Fixed Charges (1) | 2.7 | x | 1.1 | x | 1.4 | x | 2.1 | x | 2.3 | x | 2.7 | x | 2.6 | x | ||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Convertible Preferred Stock Dividends (2) | 2.7 | x | 1.1 | x | 1.4 | x | 2.1 | x | 2.3 | x | 2.6 | x | 2.6 | x | ||||||||||||||
(1) | The ratio of earnings to fixed charges is computed by dividing (a) income from continuing operations before income taxes plus fixed charges by (b) fixed charges. Fixed charges consist of interest expense on all long-term indebtedness and the portion of operating lease rental expense that is representative of the interest factor (deemed to be one-third of operating lease rentals). |
(2) | The ratio of earnings to combined fixed charges and preferred dividends is computed by dividing (a) income from continuing operations before income taxes plus fixed charges by the sum of (b) fixed charges and (c) convertible preferred stock dividends. Fixed charges consist of interest expense on all long-term indebtedness and the portion of operating lease rental expense that is representative of the interest factor (deemed to be one-third of operating lease rentals). |