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 AND SIX MONTHS ENDED
JUNE 30, 2001 AND 2000  (in thousands, except share and per share data)

|                                                       |                                                              | Quarters Ended
June 30, |                                                        | Six Months Ended
June 30,
|------------------------------------------------------ | ------------------------------------------------------------ | ----------------------- | ------------------------------------------------------ | -------------------------
|
|CSFB (USA) Common Stock                                |                                                              |                         |                                                        |                          
|Weighted Average Common Shares:                        |                                                              |                         |                                                        |                          
|                                                       | Average Common Shares Outstanding                            |                         |                                                        | 1,000                    
|                                                       |                                                              |                         |                                                        |                          
|Weighted Average Common Shares Outstanding             |                                                              |                         | 1,000                                                  |                          
|                                                       |                                                              |                         |                                                        |                          
|Earnings:                                              |                                                              |                         |                                                        |                          
|                                                       | Net Income                                                   |                         | $                                                      | 69,029                   
|                                                       | Less:  Preferred Stock Dividend Requirement                  |                         |                                                        | 5,289                    
|                                                       |                                                              |                         | Earnings (Loss) Applicable to Common
Shares-CSFBdirect |                          
|                                                       |                                                              |                         |                                                        |                          
|Earnings Applicable to Basic and Diluted Common Shares |                                                              | $                       | 68,982                                                 |                          
|                                                       |                                                              |                         |                                                        |                          
|Diluted Earnings Per Common Share                      |                                                              | $                       | 68,982                                                 |                          
|                                                       |                                                              |                         |                                                        |                          
|CSFBdirectCommon Stock                                 |                                                              |                         |                                                        |                          
|Weighted Average Common Shares:                        |                                                              |                         |                                                        |                          
|                                                       | Average Common Shares Outstanding                            |                         |                                                        | 18,400,000               
|                                                       | Average Common Shares Issuable
Under Employee Benefits Plans |                         |                                                        | 0                        
|                                                       |                                                              |                         |                                                        |                          
|                                                       |                                                              |                         | 18,400,000                                             |                          
|                                                       |                                                              |                         |                                                        |                          
|Earnings:                                              |                                                              |                         |                                                        |                          
|                                                       | Net Income (Loss)                                            |                         | $                                                      | (5,242                   
|                                                       |                                                              |                         |                                                        |                          
|Earnings (Loss) Applicable to Common Shares            |                                                              | $                       | (5,242                                                 | )                        
|                                                       |                                                              |                         |                                                        |                          
|Diluted Earnings (Loss) Per Common Share               |                                                              | $                       | (0.28                                                  | )                        
|                                                       |                                                              |                         |                                                        |                          

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