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Previous: MERRILL LYNCH & CO INC, 8-K, 2000-11-01 |
Next: MERRILL LYNCH & CO INC, 8-K, EX-99, 2000-11-01 |
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<CAPTION>
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 NINE MONTHS ENDED
---------------------------- ---------------------------
SEPT. 29, SEPT. 24, SEPT. 29, SEPT. 24,
2000 1999 2000 1999
-------- -------- -------- --------
<S> <C> <C> <C> <C>
Pre-tax earnings from continuing operations $1,311 $ 904 $ 4,409 $ 2,999
Add: Fixed charges (excluding capitalized
interest and preferred security dividend
requirements of subsidiaries) 4,759 3,199 12,860 9,802
------ ------ ------- -------
Pre-tax earnings before fixed charges 6,070 4,103 17,269 12,801
====== ====== ======= =======
Fixed charges:
Interest 4,697 3,139 12,668 9,620
Other (a) 115 111 350 334
------ ------ ------- -------
Total fixed charges 4,812 3,250 13,018 9,954
====== ====== ======= =======
Preferred stock dividends 13 14 41 42
------ ------ ------- -------
Total combined fixed charges
and preferred stock dividends $4,825 $3,264 $13,059 $ 9,996
====== ====== ======= =======
Ratio of earnings to fixed charges 1.26 1.26 1.33 1.29
Ratio of earnings to combined fixed charges
and preferred stock dividends 1.26 1.26 1.32 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.
Note: Prior period amounts have been restated to reflect the merger with Herzog,
Heine, Geduld, Inc. as required under pooling-of-interests accounting.
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