EXHIBIT 11.2

CSFB (USA), INC.  SCHEDULE OF COMPUTATION OF WEIGHTED AVERAGE NUMBER OF  COMMON SHARES AND COMMON SHARE EQUIVALENTS OUTSTANDING  AND DILUTED EARNINGS PER SHARE FOR THE QUARTERS ENDED  MARCH 31, 2001 AND
2000

|                                                            |                                                   | Quarters Ended March 31, |        
|----------------------------------------------------------- | ------------------------------------------------- | ------------------------ | -------
|
|
|CSFB (USA) Common Stock                                     |                                                   |                          |        
|Weighted Average Common Shares:                             |                                                   |                          |        
|                                                            | Average Common Shares Outstanding                 |                          |        
|                                                            |                                                   |                          |        
|Weighted Average Common Shares Outstanding                  |                                                   |                          | 1,000  
|                                                            |                                                   |                          |        
|Earnings:                                                   |                                                   |                          |        
|                                                            | Net Income                                        |                          | $      
|                                                            | Less:  Preferred Stock Dividend Requirement       |                          |        
|                                                            | Earnings Applicable to Common Shares  CSFBdirect |                          |        
|                                                            |                                                   |                          |        
|Earnings Applicable to Basic and Diluted Common Shares      |                                                   | $                        | 305,229
|                                                            |                                                   |                          |        
|Diluted Earnings Per Common Share                           |                                                   | $                        | 305,229
|                                                            |                                                   |                          |        
|CSFBdirectCommon Stock                                      |                                                   |                          |        
|Weighted Average Common Shares:                             |                                                   |                          |        
|                                                            | Average Common Shares Outstanding                 |                          |        
|Average Common Shares Issuable Under Employee Benefit Plans |                                                   |                          | 0      
|                                                            |                                                   |                          |        
|Earnings:                                                   |                                                   |                          |        
|                                                            | Net Income (Loss)                                 |                          | $      
|                                                            |                                                   |                          |        
|Earnings (Loss) Applicable to Common Shares                 |                                                   | $                        | (7,423 
|                                                            |                                                   |                          |        
|Basic Earnings (Loss) Per Common Share                      |                                                   | $                        | (0.40  
|                                                            |                                                   |                          |        

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