EX-12.01 3 a2079866zex-12_01.txt EXHIBIT 12.01 EXHIBIT 12.01 CITICORP CALCULATION OF RATIO OF INCOME TO FIXED CHARGES (In Millions)
YEAR ENDED DECEMBER 31, Three Months Ended March 31, EXCLUDING INTEREST ON DEPOSITS: 2001 2000 1999 1998 1997 2002 2001 --------- --------- --------- --------- --------- --------- --------- FIXED CHARGES: INTEREST EXPENSE (OTHER THAN INTEREST ON DEPOSITS) 8,316 8,722 7,795 7,308 6,776 1,693 2,323 INTEREST FACTOR IN RENT EXPENSE 303 283 235 213 189 74 71 --------- --------- --------- --------- --------- --------- --------- TOTAL FIXED CHARGES 8,619 9,005 8,030 7,521 6,965 1,767 2,394 --------- --------- --------- --------- --------- --------- --------- INCOME: INCOME BEFORE TAXES, MINORITY INTEREST AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES 15,221 12,876 10,496 6,732 7,664 3,781 3,403 FIXED CHARGES 8,619 9,005 8,030 7,521 6,965 1,767 2,394 --------- --------- --------- --------- --------- --------- --------- TOTAL INCOME 23,840 21,881 18,526 14,253 14,629 5,548 5,797 ========= ========= ========= ========= ========= ========= ========= RATIO OF INCOME TO FIXED CHARGES EXCLUDING INTEREST ON DEPOSITS 2.77 2.43 2.31 1.90 2.10 3.14 2.42 ========= ========= ========= ========= ========= ========= ========= INCLUDING INTEREST ON DEPOSITS: FIXED CHARGES: INTEREST EXPENSE 20,181 22,045 18,606 18,868 16,430 3,544 5,813 INTEREST FACTOR IN RENT EXPENSE 303 283 235 213 189 74 71 --------- --------- --------- --------- --------- --------- --------- TOTAL FIXED CHARGES 20,484 22,328 18,841 19,081 16,619 3,618 5,884 --------- --------- --------- --------- --------- --------- --------- INCOME: INCOME BEFORE TAXES, MINORITY INTEREST AND CUMULATIVE EFFECT OF ACCOUNTING CHANGES 15,221 12,876 10,496 6,732 7,664 3,781 3,403 FIXED CHARGES 20,484 22,328 18,841 19,081 16,619 3,618 5,884 --------- --------- --------- --------- --------- --------- --------- TOTAL INCOME 35,705 35,204 29,337 25,813 24,283 7,399 9,287 ========= ========= ========= ========= ========= ========= ========= RATIO OF INCOME TO FIXED CHARGES INCLUDING INTEREST ON DEPOSITS 1.74 1.58 1.56 1.35 1.46 2.05 1.58 ========= ========= ========= ========= ========= ========= =========
Note> On November 30, 2000, Citigroup Inc. completed its acquisition of Associates First Capital Corporation (Associates) in a transaction accounted for as a pooling of interests. Subsequent to the acquisition, Associates was contributed to and became a wholly owned subsidiary of Citicorp and Citicorp issued a full and unconditional guarantee of the outstanding long-term debt securities and commercial paper of Associates.