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Previous: MERRILL LYNCH & CO INC, 8-K, 2000-08-02 |
Next: MERRILL LYNCH & CO INC, 8-K, EX-99, 2000-08-02 |
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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)
FOR THE THREE MONTHS ENDED FOR THE SIX MONTHS ENDED
---------------------------- --------------------------
JUNE 30, JUNE 25, JUNE 30, JUNE 25,
2000 1999 2000 1999
--------- --------- --------- ---------
<S> <C> <C> <C> <C>
Pre-tax earnings from continuing operations $ 1,378 $ 1,031 $ 2,953 $ 2,027
Add: Fixed charges (excluding capitalized
interest and preferred security dividend
requirements of subsidiaries) 4,256 3,243 8,094 6,595
------- ------- ------- -------
Pre-tax earnings before fixed charges 5,634 4,274 11,047 8,622
======= ======= ======= =======
Fixed charges:
Interest 4,193 3,183 7,966 6,475
Other (a) 115 110 233 220
------- ------- ------- -------
Total fixed charges 4,308 3,293 8,199 6,695
======= ======= ======= =======
Preferred stock dividends 14 14 28 28
------- ------- ------- -------
Total combined fixed charges
and preferred stock dividends $ 4,322 $ 3,307 $ 8,227 $ 6,723
======= ======= ======= =======
Ratio of earnings to fixed charges 1.31 1.30 1.35 1.29
Ratio of earnings to combined fixed charges
and preferred stock dividends 1.30 1.29 1.34 1.28
(a) Other fixed charges consist of the interest factor in rentals, amortization
of debt issuance costs, preferred security dividend requirements of
subsidiaries, and capitalized interest.
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