EX-12.01 3 y54862ex12-01.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.01 SALOMON SMITH BARNEY HOLDINGS INC. AND SUBSIDIARIES CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)
Nine Months Ended September 30, Dollars in millions 2001 ----------------- Earnings from operations: Income before income taxes and cumulative effect of change in accounting principles $ 2,107 Add fixed charges (see below) 10,049 ----------------- Earnings as defined $ 12,156 ================= Fixed charges from operations: Interest expense $ 9,941 Other adjustments 108 ----------------- Fixed charges from operations as defined $ 10,049 ================= Ratio of earnings to fixed charges 1.21 =================
NOTE: The ratio of earnings to fixed charges is calculated by dividing 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.