Jefferies 10-Q 2015 Q3 Quarterly report

Exhibit 12

JEFFERIES GROUP LLC

Ratio of Earnings to Fixed Charges and

Ratio of Earnings to Combined Fixed Charges and Preferred Dividends

(Dollar amounts in thousands)

	Successor									Predecessor
	Nine Months Ended August 31, 2015			Twelve Months Ended November 30, 2014			Nine Months Ended November 30,  2013			Three Months Ended February 28, 2013			Twelve Months Ended  November 30,  2012 2011						Eleven Months Ended November 30, 2010
Fixed Charges:
Interest expense on   long-term   indebtedness	$	188,388		$	250,424		$	184,954		$	79,918		$	292,987		$	280,046		$	194,851
Interest portion of   rent expense	14,449			19,130			14,400			4,024			16,137			14,774			12,061
Total fixed charges	$	202,837		$	269,554		$	199,354		$	83,942		$	309,124		$	294,820		$	206,912
Convertible   Preferred Stock   Dividends	$	—		$	—		$	—		$	1,016		$	4,063		$	4,063		$	3,724
Earnings:
Earnings before   income taxes	$	104,689		$	303,021		$	264,295		$	139,487		$	491,795		$	419,334		$	396,671
Total fixed charges	202,837			269,554			199,354			83,942			309,124			294,820			206,912
Total earnings before   income taxes and   fixed charges	$	307,526		$	572,575		$	463,649		$	223,429		$	800,919		$	714,154		$	603,583
Ratio of Earnings to   Fixed Charges (1)	1.5		x	2.1		x	2.3		x	2.7		x	2.6		x	2.4		x	2.9		x
Ratio of Earnings to    Combined Fixed    Charges and    Convertible    Preferred Stock    Dividends (2)	1.5		x	2.1		x	2.3		x	2.6		x	2.6		x	2.4		x	2.9		x

(1) The ratio of earnings to fixed charges is computed by dividing (a) income from continuing operations before income taxes plus fixed charges by (b) fixed charges. Fixed charges consist of interest expense on all long-term indebtedness and the portion of operating lease rental expense that is representative of the interest factor (deemed to be one-third of operating lease rentals).

(2) The ratio of earnings to combined fixed charges and preferred dividends is computed by dividing (a) income from continuing operations before income taxes plus fixed charges by the sum of (b) fixed charges and (c) convertible preferred stock dividends. Fixed charges consist of interest expense on all long-term indebtedness and the portion of operating lease rental expense that is representative of the interest factor (deemed to be one-third of operating lease rentals.)