EX-12
RATIO OF EARNINGS TO FIXED CHARGES
EXHIBIT 12
MERRILL LYNCH PREFERRED CAPITAL TRUST, IV
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED SECURITIES DISTRIBUTIONS
(dollars in thousands)
For the Three For the Nine
Months Ended Months Ended Year Ended Last Friday in December
------------------------------ ----------------------------------------------------------
September 28, September 28,
2007 2007 2006 2005 2004 2003 2002
------------- ------------- -------- --------- --------- -------- --------
Earnings $ 7,340 $ 22,020 $ 29,361 $ 29,361 $ 29,361 $ 29,361 $ 29,361
============= ============= ======== ========= ========= ======== ========
Fixed charges $ - $ - $ - $ - $ - $ - $ -
Preferred securities 7,120 21,360 28,480 28,480 28,480 28,480 28,480
distribution requirements ------------- ------------- -------- --------- --------- -------- --------
Total combined fixed charges and
preferred securities distribution $ 7,120 $ 21,360 $ 28,480 $ 28,480 $ 28,480 $ 28,480 $ 28,480
requirements ============= ============= ======== ========= ========= ======== ========
Ratio of earnings to combined fixed
charges and preferred securities
distribution requirements 1.03 1.03 1.03 1.03 1.03 1.03 1.03
MERRILL LYNCH PREFERRED FUNDING IV, L.P.
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED SECURITIES DISTRIBUTIONS
(dollars in thousands)
For the Three For the Nine
Months Ended Months Ended Year Ended Last Friday in December
------------------------------ ----------------------------------------------------------
September 28, September 28,
2007 2007 2006 2005 2004 2003 2002
------------- ------------- --------- --------- --------- -------- --------
Earnings $ 8,610 $ 25,831 $ 34,424 $ 34,340 $ 34,265 $ 34,257 $ 34,303
============= ============= ========= ========= ========= ======== ========
Fixed charges $ - $ - $ - $ - $ - $ - $ -
Preferred securities 7,340 22,020 29,361 29,361 29,361 29,361 29,361
distribution requirements ------------- ------------- --------- --------- --------- --------- --------
Total combined fixed charges and
preferred securities distribution $ 7,340 $ 22,020 $ 29,361 $ 29,361 $ 29,361 $ 29,361 $ 29,361
requirements ============= ============= ========= ========= ========= ======== ========
Ratio of earnings to combined fixed
charges and preferred securities
distribution requirements 1.17 1.17 1.17 1.17 1.17 1.17 1.17