EX-12.01 2 y46410ex12-01.txt COMPUTATION OF RATIO OF EARNINGS 1 EXHIBIT 12.01 SALOMON SMITH BARNEY HOLDINGS INC. AND SUBSIDIARIES Calculation of Ratio of Earnings to Fixed Charges (Unaudited)
Years Ended December 31, ----------------------------------------------------------- Dollars in millions 2000 1999 1998 1997 1996 ---------------------------------------------------------------------------------------------------------------------------- Earnings from continuing operations: Income from continuing operations before income taxes and cumulative effect of change in accounting principles $ 4,742 $ 4,496 $ 1,316 $ 1,820 $ 3,064 Add fixed charges (see below) 14,652 9,778 11,523 10,626 8,265 Other adjustments 0 0 0 0 1 ------- ------- ------- ------- ------- Earnings as defined $19,394 $14,274 $12,839 $12,446 $11,330 ======= ======= ======= ======= ======= Fixed charges from continuing operations: Interest expense $14,530 $ 9,681 $11,466 $10,530 $ 8,175 Other adjustments 122 97 57 96 90 ------- ------- ------- ------- ------- Fixed charges from continuing operations as defined $14,652 $ 9,778 $11,523 $10,626 $ 8,265 ======= ======= ======= ======= ======= Ratio of earnings to fixed charges 1.32 1.46 1.11 1.17 1.37 ======= ======= ======= ======= =======
NOTES: The ratio of earnings to fixed charges from continuing operations was calculated by dividing the sum of fixed charges into the sum of income before income taxes and cumulative effect of change in accounting principles and fixed charges. Fixed charges consist of interest expense, including capitalized interest and a portion of rental expense representative of the interest factor.