eTrade 2012 Annual Report Download - page 213
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Exhibit 12.1
E*TRADE Financial, Inc.
Computation of Ratio of Earnings to Fixed Charges adjusted for Disc Ops
YEAR Ended 12/31/12 YEAR Ended 12/31/11 YEAR Ended 12/31/10 YEAR Ended 12/31/09 YEAR Ended 12/31/08
Fixed char
g
es:
Interest ex
p
ense
$ 453,370
$ 488,641
$ 486,567
$ 852,766
$ 1,557,654
Amortization of debt issue
ex
p
ense
12,540
1,568
993
1,878
6,440
Estimated interest portion
within rental ex
p
ense
7,575
6,558
7,574
8,316
8,968
Preference securities dividend
re
q
uirements of consol. subs
—
—
—
—
—
Total fixed char
g
es
$ 473,485
$ 496,767
$ 495,134
$ 862,960
$ 1,573,062
Earnin
g
s:
Income (loss) before income
taxes, extraordinary item and
cumulative effect less equity
in income (loss) of
investments
$ (132,256)
$ 187,089
$ (2,402)
$ (1,826,815)
$ (1,297,381)
Fixed char
g
es
473,485
496,767
495,134
862,960
1,573,062
Less:
Preference securities dividend
re
q
uirement of consol subs
—
—
—
—
—
Earnin
g
s
$ 341,229
$ 683,856
$ 492,732
$ (963,855)
$ 275,681
Ratio of earnings to fixed
char
g
es
$0.72
$1.38
$1.00
$(1.12)
$0.18
Excess (deficiency) of earnings
to fixed char
g
es
$ (132,256)
$ 187,089
$ (2,402)
$ (1,826,815)
$ (1,297,381)