eTrade 2001 Annual Report Download - page 194

Download and view the complete annual report

Please find page 194 of the 2001 eTrade annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 197

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197

STATEMENT OF COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES
Year Ended December31,
2001
Three Months Ended
December31, 2000 Year Ended September 30,
2000 1999 1998 1997
(dollars in thousands)
Fixed Charges:
Interest expense $ 832,137 $ 244,830 $ 630,397 $ 215,523 $ 120,355 $ 61,189
Amortization of debt
issuance costs
3,432 711 1,788 230 281 204
Estimated interest within
rental expense
15,912 5,307 14,202 12,213 7,281 4,152
Preference securities
dividend requirement of
consolidated subsidiaries
— — — 6,083 6,840 2,203
Total fixed charges $ 851,481 $ 250,848 $ 646,387 $ 234,049 $ 134,757 $ 67,748
Earnings:
Income (loss) before
income taxes, minority
interest, extraordinary items
and cumulative effect of
accounting change less
equity in income (losses) of
investments
$ (304,080 ) $ 3,290 $ 115,962 $ (74,568 ) $ 2,312 $ 33,218
Fixed charges 851,481 250,848 646,387 234,049 134,757 67,748
Less:
Preference securities
dividend requirement of
consolidated subsidiaries
— — — (6,083 ) (6,840 ) (2,203 )
Earnings $ 547,401 $ 254,138 $ 762,349 $ 153,398 $ 130,229 $ 98,763
Ratio of earnings to fixed
charges
0.64 1.01 1.18 0.66 0.97 1.46
Excess (deficiency) of
earnings to fixed charges
$ (304,080 ) $ 3,290 $ 115,962 $ (80,651 ) $ (4,528 ) $ 31,015
The ratio of earnings to fixed charges is computed by dividing fixed charges into income (loss) before income taxes, minority interest,
extraordinary items and the cumulative effect of accounting change less equity in the income (losses) of investments plus fixed charges
less the preference securities dividend requirement of consolidated subsidiaries. Fixed charges include, as applicable, interest expense,
amortization of debt issuance costs, the estimated interest component of rent expense and the preference securities dividend
requirement of consolidated subsidiaries.
1
Exhibit 21.1
2002. EDGAR Online, Inc.