Exhibit 12.1
Nasdaq , Inc.
Computation of Ratio of Earnings to Fixed Charges
And Preferred Stock Dividends
(Dollars in Millions)
Unaudited
Year Ended December 31,
2015
2014
2013
2012
2011
Pre-tax income from continuing operations .......................................................................
$
6 49
$596 $
600
$
548
$571
Add: fixed charges .............................................................................................................
127
134
126
111
135
Pre-tax income before fixed charges .....................................................................................
776
730
726
659
706
Fixed charges:
Interest expense ...........................................................................................................
127
134
126
111
135
Total fixed charges ...........................................................................................................
127
134
126
111
135
Preferred stock dividend requirements .................................................................................
—
—
—
—
—
Total combined fixed charges and preferred stock dividends .....................................................
$127
$134
$126
$111
$135
Ratio of earnings to fixed charges .......................................................................................
6.11
5.45
5.76
5.94
5.23
Ratio of earnings to fixed charges and preferred stock dividends ...............................................
6.11
5.45
5.76
5.94
5.23
P re-tax income from continuing operations is before equity in earnings of 50%-or-less-owned companies and adjustment for
noncontrolling interests.
Consists of interest expense on all debt obligations (including accretion of debt issuance costs and debt discount) and the
portion of operating lease rental expense that is representative of the interest factor.
Includes costs of $1 72 million in 2015 associated with Nasdaq’s 2015 restructuring program.
Includes costs of $9 million in 2013 and $44 million in 2012 a ssociated with Nasdaq’s 2012 restructuring program that was
announced in 2012 .
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(3)
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Exhibit 21.1
SUBSIDIARIES
Domestic Subsidiaries
1.
Boston Stock Exchange Clearing Corporation (incorporated in Massachusetts)
2.
Bwise Internal Control Inc. (incorporated in New York)
3.
Consolidated Securities Source LLC (organized in Delaware)
4.
Directors Desk, LLC (organized in Delaware)
5.
Dorsey, Wright & Associates, LLC (organized in Virginia)
6.
ExactEquity, LLC (organized in Delaware)
7.
Execution Access, LLC (organized in Delaware)
8.
FinQloud LLC (organized in Delaware)
9.
FINRA/NASDAQ Trade Reporting Facility LLC (organized in Delaware)
10.
FTEN, Inc. (incorporated in Delaware)
11.
Global Network Content Services, LLC ( organized in Florida)
12.
GlobeNewswire, Inc. (incorporated in California)
13.
GraniteBlock, Inc. (incorporated in Delaware)
14.
Granite Redux, Inc. (incorporated in Delaware)
15.
Inet Futures Exchange, LLC (organized in Delaware)
16.
Kleos Managed Services Holdings, LLC (organized in Delaware)
17.
Kleos Managed Services, L.P. (organized in Delaware)
18.
Marketwire, Inc. (organized in California)
19.
MW Holdco (2006) Inc. (organized in Delaware)
20.
NASDAQ Energy Futures, LLC (organized in Delaware)
21.
Nasdaq Execution Services, LLC (organized in Delaware)
22.
NASDAQ Futures, Inc. (incorporated in Pennsylvania)
23.
NASDAQ Global, Inc. (incorporated in Delaware)
24.
Nasdaq International Market Initiatives, Inc. (incorporated in Delaware)
25.
NASDAQ OMX BX Equities LLC (organized in Delaware)
26.
NASDAQ BX, Inc. (incorporated in Delaware)
27.
Nasdaq Commodities Clearing LLC (organized in Delaware)
28.
Nasdaq Corporate Solutions, Inc. (incorporated in Delaware)
29.
Nasdaq Corporate Solutions, LLC (organized in Delaware)
30.
Nasdaq Information, LLC (organized in Delaware)
31.
NASDAQ PHLX LLC (organized in Delaware)
32.
NASDAQ OMX (San Francisco) Insurance LLC (organized in Delaware)
33.
NASDAQ Options Services, LLC (organized in Delaware)
34.
Nasdaq Technology Services, LLC (organized in Delaware)
35.
Norway Acquisition LLC (organized in Delaware)
36.
NPM Securities, LLC (organized in Delaware)
37.
Nasdaq Educational Foundation, Inc. (incorporated in Delaware) (non-profit)
38.
Operations & Compliance Network, LLC (incorporated in Delaware)
39.
The NASDAQ Options Market LLC (organized in Delaware)
40.
The NASDAQ Private Market, LLC (organized in California)
41.
The NASDAQ Stock Market LLC (organized in Delaware)
42.
SecondMarket Solutions, Inc. (organized in Delaware)
43.
SecondMarket Labs, LLC (organized in Delaware)
44.
SMTX, LLC (organized in Delaware)
45.
The Stock Clearing Corporation of Philadelphia (incorporated in Pennsylvania)
Foreign Subsidiaries*
1.
2157971 Ontario Ltd. (organized in Canada)
2.
AB Nasdaq Vilnius (organized in Lithuania)