EX-12.1 10 c63815ex12-1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31, Six Months ------------------------------------------------ Ended (Dollars in Millions) 2000 1999 1998 1997 1996 June 30, 2001 ------------------------------------------------------------------------------------------------------------------ ------------- EARNINGS 1. Net income $ 2,875.6 $2,381.8 $2,132.9 $1,599.3 $1,918.6 $972.4 2. Applicable income taxes 1,512.2 1,392.2 1,167.4 950.6 1,082.9 513.0 --------------------------------------------------- ------------- 3. Income before taxes (1 + 2) $ 4,387.8 $3,774.0 $3,300.3 $2,549.9 $3,001.5 $1,485.4 --------------------------------------------------- ------------- 4. Fixed charges: a. Interest expense excluding interest on deposits $ 2,404.1 $1,820.3 $1,625.0 $1,305.6 $1,067.9 $1,054.3 b. Portion of rents representative of interest and amortization of debt expense 86.7 78.9 73.3 68.0 68.5 45.3 --------------------------------------------------- ------------- c. Fixed charges excluding interest on deposits (4a + 4b) 2,490.8 1,899.2 1,698.3 1,373.6 1,136.4 1,099.6 d. Interest on deposits 3,618.8 2,970.0 3,234.7 3,084.2 2,921.5 1,666.7 --------------------------------------------------- ------------- e. Fixed charges including interest on deposits (4c + 4d) $ 6,109.6 $4,869.2 $4,933.0 $4,457.8 $4,057.9 $2,766.3 --------------------------------------------------- ------------- 5. Amortization of interest capitalized $-- $-- $-- $-- $-- $-- 6. Earnings excluding interest on deposits (3 + 4c + 5) 6,878.6 5,673.2 4,998.6 3,923.5 4,137.9 2,585.0 7. Earnings including interest on deposits (3 + 4e + 5) 10,497.4 8,643.2 8,233.3 7,007.7 7,059.4 4,251.7 8. Fixed charges excluding interest on deposits (4c) 2,490.8 1,899.2 1,698.3 1,373.6 1,136.4 1,099.6 9. Fixed charges including interest on deposits (4e) 6,109.6 4,869.2 4,933.0 4,457.8 4,057.9 2,766.3 RATIO OF EARNINGS TO FIXED CHARGES 10. Excluding interest on deposits (line 6 / line 8) 2.76 2.99 2.94 2.86 3.64 2.35 11. Including interest on deposits (line 7 / line 9) 1.72 1.78 1.67 1.57 1.74 1.54 -------------------------------------------------------------------------------------------------------------------- --------------