EX-12.1 3 a07-5363_1ex12d1.htm EX-12.1

Exhibit No. 12.1

UNIONBANCAL CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES REQUIREMENTS

 

 

For the Years Ended December 31,

 

(In millions, except ratios)

 

 

 

2002

 

2003

 

2004

 

2005

 

2006

 

EXCLUDING INTEREST ON DEPOSITS

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes and effect of accounting changes

 

$

736

 

$

824

 

$

1,109

 

$

1,087

 

$

1,035

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense, excluding interest on deposits

 

59

 

37

 

38

 

82

 

194

 

One third of rents, net income from subleases (A)

 

11

 

11

 

14

 

17

 

15

 

Total fixed charges

 

70

 

48

 

52

 

99

 

209

 

Earnings before taxes, fixed charges, and effect of accounting changes, excluding capitalized interest

 

$

806

 

$

872

 

$

1,161

 

$

1,186

 

$

1,244

 

Ratio of earnings to fixed charges requirements

 

11.51

 

18.17

 

22.33

 

11.98

 

5.95

 

 

 

 

 

 

 

 

 

 

 

 

 

INCLUDING INTEREST ON DEPOSITS

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

$

70

 

$

48

 

$

52

 

$

99

 

$

209

 

Add: Interest on deposits

 

220

 

152

 

147

 

303

 

650

 

Total fixed charges including interest on deposits

 

$

290

 

$

200

 

$

199

 

$

402

 

$

859

 

Earnings before taxes, fixed charges, and effect of accounting changes, excluding capitalized interest, as above

 

$

806

 

$

872

 

$

1,161

 

$

1,186

 

$

1,244

 

Add: Interest on deposits

 

220

 

152

 

147

 

303

 

650

 

Total earnings before taxes, fixed charges, effect of accounting changes, and interest on deposits

 

$

1,026

 

$

1,024

 

$

1,308

 

$

1,489

 

$

1,894

 

Ratio of earnings to fixed charges requirements

 

3.54

 

5.12

 

6.57

 

3.70

 

2.20

 

(A)         The proportion deemed representative of the interest factor.