Merrill LYNCH & Co. (MER) Inactive 10-Q2011 Q1 Quarterly report

Filed: 6 May 11, 12:00am

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Readability	H.S. sophomore V bad

New words: accurate, AFS, Allstate, Ally, alter, appraised, area, arrive, attract, attractive, back, backed, begun, behavior, body, bps, breakdown, budget, bulk, choose, comply, confidential, constitute, contend, contested, customary, debtor, decide, declare, defect, degree, description, desired, diminishing, disagree, disaster, discovery, dispositive, distinguish, diversity, domestic, downsize, DVA, earthquake, electronic, elevated, empowered, entitledAllstate, exempt, factual, faith, fiscal, foregoing, goal, greatest, GSE, health, horizon, horizontal, House, housing, inaccurate, inBondar, indemnity, intense, internationally, Introduction, iv, jointly, Kingdom, learned, lengthened, mention, mentioned, misleading, modification, monetary, motivate, nonaccretable, nonperforming, nonqualified, OTTI, perfected, permissible, persistently, personnel, political, population, pose, prerequisite, processing, prohibited, prohibition, properly, prove, provision, prudent, refined, registration, repackaging, repo, residence, retention, retrospective, role, roll, salary, sampling, Stockholder, stratified, strictly, stringent, subprime, substandard, Suffolk, suit, supply, Tokyo, toRule, tsunami, turn, twelve, unauthorized, uncured, underwent, underwrote, unemployment, unknown, unrest, upheld, upper, vertical, vigorously, Volcker, volume, whichever, winding, work

Removed: abetting, accretion, acquire, adjust, administrator, affecting, affirmed, aiding, amend, Analyzing, assessed, Attorney, augmented, automatic, awarded, BAC, BAI, bifurcation, called, capacity, categorization, clarify, collect, concept, conduit, Connecticut, consult, deconsolidated, decreased, denied, disaggregation, disclose, Discussing, dismissing, Documenting, duration, duty, efficient, elimination, employer, enhanced, ERISA, evidential, executed, extraordinary, facility, fiduciary, floating, fourth, FSB, funeral, gauging, GMI, GWM, identifying, IFSRA, immaterial, inherently, invested, Irish, Iron, leasing, Mississippi, MLBUSA, modify, motion, noncredit, obligate, organized, owed, passive, payroll, plaintiff, platform, pool, preference, prejudice, protected, purported, QSPE, reached, reader, realization, recover, recruitment, reducing, relief, Ret, seeking, stable, stay, Treasurer, USA, valuable, vast, withdrew, Wyoming

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EXHIBIT 12

MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in millions)


	Successor Company						Predecessor Company
	Three Months Ended		Year Ended		Year Ended		Year Ended			Year Ended
	March 31,		December 31,		December 31,		December 26,			December 28,
	2011		2010		2009		2008			2007
Pre-tax earnings (loss)(a)	$	257	$	2,708	$	6,455	$	(45,438	)	$	(13,723	)
Add: Fixed charges (excluding capitalized interest and preferred security dividend requirements of subsidiaries)		2,436		9,935		12,341		29,641			51,683

Pre-tax earnings / (loss) before fixed charges		2,693		12,643		18,796		(15,797	)		37,960

Fixed charges:
Interest		2,353		9,621		12,040		29,349			51,425
Other(b)		83		314		301		292			258

Total fixed charges		2,436		9,935		12,341		29,641			51,683

Preferred stock dividend requirements		-		140		141		4,356			401

Total combined fixed charges and preferred stock dividends	$	2,436	$	10,075	$	12,482	$	33,997		$	52,084

Ratio of earnings to fixed charges		1.11		1.27		1.52			*			*
Ratio of earnings to combined fixed charges and preferred stock dividends		1.11		1.25		1.51			*			*


(a)		Excludes undistributed earnings (loss) from equity investments and earnings from discontinued operations.
(b)		Other fixed charges consist of the interest factor in rentals, amortization of debt issuance costs and preferred security dividend requirements of subsidiaries.
*		The earnings for the years 2008 and 2007 were inadequate to cover total fixed charges and total fixed charges and preferred stock dividends. The coverage deficiencies for total fixed charges for the years 2008 and 2007 were $45,438 and $13,723, respectively. The coverage deficiencies for total fixed charges and preferred stock dividends for the years 2008 and 2007 were $49,794 and $14,124, respectively.