EX-12.0 2 rjf-ex12_20141231x10q.htm EXHIBIT 12 RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS RJF-EX12_2014.12.31-10Q


EXHIBIT 12

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(in thousands, except ratio of earnings to fixed charges and preferred stock dividends)
 
 
 
 
 
 
 
 
 
Three months ended December 31,
 
Year ended September 30,
 
2014
 
2013
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income excluding noncontrolling interests
$
202,908

 
$
178,924

 
$
748,045

 
$
564,187

 
$
471,525

 
$
461,247

 
$
361,908

Fixed charges
34,855

 
32,813

 
134,366

 
140,708

 
115,992

 
84,557

 
81,250

Less: preferred stock dividends

 

 

 

 

 

 

Earnings
$
237,763

 
$
211,737

 
$
882,411

 
$
704,895

 
$
587,517

 
$
545,804

 
$
443,158

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
27,081

 
$
25,023

 
$
102,878

 
$
109,159

 
$
90,389

 
$
65,351

 
$
62,564

Estimated interest portion within rental expense
7,471

 
7,441

 
30,275

 
30,337

 
24,623

 
18,727

 
18,399

Amortization of debt issuance cost
303

 
349

 
1,213

 
1,212

 
980

 
479

 
287

Preferred stock dividends

 

 

 

 

 

 

Total fixed charges
$
34,855

 
$
32,813

 
$
134,366

 
$
140,708

 
$
115,992

 
$
84,557

 
$
81,250

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges and preferred stock dividends
6.82

 
6.45

 
6.57

 
5.01

 
5.07

 
6.45

 
5.45


We calculated our ratio of earnings to fixed charges and preferred stock dividends by adding pre-tax income excluding noncontrolling interests, plus fixed charges minus preferred stock dividends and dividing that sum by our fixed charges. Our fixed charges for this ratio consist of interest expense, the portion of our rental expense deemed to represent interest (calculated as one third of rental expense), amortization of debt issuance costs and preferred stock dividends.


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