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Filing tables
Filing exhibits
- 10-K Annual report
- 3.1 Restated Certificate of Incorporation of the Registrant
- 3.2 Restated By-laws of the Registrant
- 12.1 Computation of Ratio of Earnings to Fixed Charges
- 21.1 Subsidiaries
- 23.1 Consent of Pricewaterhousecoopers LLP
- 31.1 Section 302 CEO Certification
- 31.2 Section 302 CFO Certification
- 32.1 Section 906 CEO Certification
- 32.2 Section 906 CFO Certification
Related press release
SWS similar filings
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Exhibit 12.1
SWS Group, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratio)
| Fiscal Years Ended | ||||||||||||||||
June 25, 2004 | June 27, 2003 | June 28, 2002 | June 29, 2001 | June 30, 2000 | ||||||||||||
Income (loss) before income taxes and minority interest in consolidated subsidiaries | $ | 9,292 | $ | 5,015 | $ | (7,385 | ) | $ | 34,962 | $ | 137,905 | |||||
Add fixed charges: | ||||||||||||||||
Interest expense | 33,324 | 39,885 | 65,807 | 171,578 | 178,084 | |||||||||||
Interest factor in rents (1) | 3,595 | 5,759 | 7,798 | 6,608 | 4,770 | |||||||||||
Total fixed charges | 36,919 | 45,644 | 73,605 | 178,186 | 182,854 | |||||||||||
Earnings before fixed charges and income taxes | $ | 46,211 | $ | 50,659 | $ | 66,220 | $ | 213,148 | $ | 320,759 | ||||||
Ratio of earnings to fixed charges (2) | 1.3 | 1.1 | — | 1.2 | 1.8 | |||||||||||
Deficiency of earnings available to cover fixed charges | — | — | $ | (7,385 | ) | — | — | |||||||||
| (1) | SWS estimates that one-third of rental expense is representative of the interest factor. |
| (2) | Due to SWS’ net loss before income taxes and minority interest in consolidated subsidiaries in 2002, the coverage ratio was less than 1:1. |