eTrade 2006 Annual Report Download - page 157
Download and view the complete annual report
Please find page 157 of the 2006 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.-
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
 |
 |
Exhibit 12.1
STATEMENT OF COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES
(in thousands, except ratio of earnings to fixed charges)
For the Year Ended December 31,
2006 2005 2004 2003 2002
Fixed charges:
Interest expense $1,518,705 $ 850,280 $ 557,980 $531,721 $608,890
Amortization of debt issue expense ...... 8,438 2,840 2,083 3,084 3,217
Estimated interest portion within rental
expense .......................... 10,138 7,560 5,281 9,417 9,557
Preference securities dividend requirements
of consolidated subsidiaries .......... — — — — —
Total fixed charges ............... $1,537,281 $ 860,680 $ 565,344 $544,222 $621,664
Earnings:
Income (loss) before income taxes,
discontinued operations and cumulative
effect of accounting change less equity
in income (loss) of investments ........ $ 926,346 $ 670,009 $ 554,215 $292,227 $202,360
Fixed charges ........................ 1,537,281 860,680 565,344 544,222 621,664
Less:
Preference securities dividend requirement
of consolidated subsidiaries .......... — — — — —
Earnings ............................ $2,463,627 $1,530,689 $1,119,559 $836,449 $824,024
Ratio of earnings of fixed charges ....... $ 1.60 $ 1.78 $ 1.98 $ 1.54 $ 1.33
Excess (deficiency) of earnings to fixed
charges ........................... $ 926,346 $ 670,009 $ 554,215 $292,227 $202,360
The ratio of earnings to fixed charges is computed by dividing fixed charges into income (loss) before
income taxes, discontinued operations and the cumulative effect of accounting changes less equity in the income
(loss) 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 (calculated as one-third of net rent expense) and the preference
securities dividend requirement of consolidated subsidiaries.