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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Avg
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EXHIBIT 12.01
LEHMAN BROTHERS HOLDINGS INC.
Computation of Ratios of Earnings to Fixed Charges and
to Combined Fixed Charges and Preferred Stock Dividends
(Unaudited)
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| Six Months |
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| Ended May 31, |
| Year Ended November 30, | ||||||||||
Dollars in millions |
| 2007 |
| 2006 |
| 2005 |
| 2004 |
| 2003 | ||||
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Pre-tax earnings from continuing operations |
| $ 3,578 |
| $ 5,905 |
| $ 4,829 |
| $ | 3,518 |
| $ | 2,536 | ||
Add: Fixed charges (excluding capitalized interest) |
| 18,856 |
| 29,323 |
| 18,040 |
| 9,773 |
| 8,724 | ||||
Pre-tax earnings before fixed charges |
| $22,434 |
| $ | 35,228 |
| $22,869 |
| $ | 13,291 |
| $ | 11,260 | |
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Fixed charges: |
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Interest |
| $18,815 |
| $ | 29,126 |
| $17,790 |
| $ | 9,674 |
| $ | 8,640 | |
Other (1) |
| 60 |
| 108 |
| 125 |
| 114 |
| 119 | ||||
Total fixed charges |
| 18,875 |
| 29,234 |
| 17,915 |
| 9,788 |
| 8,759 | ||||
Preferred stock dividend requirements |
| 50 |
| 98 |
| 101 |
| 129 |
| 143 | ||||
Total combined fixed charges and |
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preferred stock dividends |
| $18,925 |
| $ | 29,332 |
| $18,016 |
| $ | 9,917 |
| $ | 8,902 | |
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Ratio of earnings to fixed charges |
| 1.19 |
| 1.21 |
| 1.28 |
| 1.36 |
| 1.29 | ||||
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Ratio of earnings to combined fixed charges |
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and preferred stock dividends |
| 1.19 |
| 1.20 |
| 1.27 |
| 1.34 |
| 1.26 | ||||
(1) Other fixed charges consist of the interest factor in rentals and capitalized interest.
| - 89 - |
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