eTrade 2007 Annual Report Download - page 204
Download and view the complete annual report
Please find page 204 of the 2007 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
-
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 -
198 -
199 -
200 -
201 -
202 -
203 -
204 -
205 -
206 -
207 -
208 -
209 -
210
 |
 |
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,
2007 2006 2005 2004 2003
Fixed charges:
Interest expense .................... $2,123,646 $1,518,705 $ 850,280 $ 557,980 $531,721
Amortization of debt issue expense .... 9,492 8,438 2,840 2,083 3,084
Estimated interest portion within rental
expense ........................ 10,676 10,138 7,560 5,281 9,417
Preference securities dividend
requirements of consolidated
subsidiaries ..................... —————
Total fixed charges ............. $2,143,814 $1,537,281 $ 860,680 $ 565,344 $544,222
Earnings:
Income (loss) before income taxes,
discontinued operations and
cumulative effect of accounting
change less equity in income (loss) of
investments ..................... $(2,185,368) $ 926,346 $ 670,009 $ 554,215 $292,227
Fixed charges ..................... 2,143,814 1,537,281 860,680 565,344 544,222
Less:
Preference securities dividend
requirement of consolidated
subsidiaries ..................... —————
Earnings ......................... $ (41,555) $2,463,627 $1,530,689 $1,119,559 $836,449
Ratio of earnings of fixed charges ..... $ (0.02) $ 1.60 $ 1.78 $ 1.98 $ 1.54
Excess (deficiency) of earnings to fixed
charges ........................ $(2,185,369) $ 926,346 $ 670,009 $ 554,215 $292,227
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.