EX-12 3 a98926exv12.htm EXHIBIT 12 exv12
 

BancWest Corporation and Subsidiaries
EXHIBITS AND REPORTS ON FORM 8-K (Continued)

Exhibit 12 Statement re: Computation of Ratios

BancWest Corporation and Subsidiaries
Computation of Consolidated Ratios of Earnings to Fixed Charges

                 
    Three Months Ended March 31,
    2004
   2003
    (Dollars in thousands)
Income before income taxes
   $ 184,717     $ 166,723  
 
    
 		      
 		  
Fixed charges (1):
                
Interest expense
     96,126       102,237  
Rental expense
     4,069       5,229  
 
    
 		      
 		  
 
     100,195       107,466  
Less interest on deposits
     43,436       53,147  
 
    
 		      
 		  
Net fixed charges
     56,759       54,319  
 
    
 		      
 		  
Earnings, excluding interest on deposits
   $ 241,476     $ 221,042  
 
    
 		      
 		  
Earnings, including interest on deposits
   $ 284,912     $ 274,189  
 
    
 		      
 		  
Ratio of earnings to fixed charges:
                
Excluding interest on deposits
     4.25 x     4.07 x
Including interest on deposits
     2.84 x     2.55 x

(1)   For purposes of computing the consolidated ratios of earnings to fixed charges, earnings represent income before income taxes plus fixed charges. Fixed charges, excluding interest on deposits, include interest (other than on deposits), whether expensed or capitalized, and that portion of rental expense (generally one third) deemed representative of the interest factor. Fixed charges, including interest on deposits, consists of the foregoing items plus interest on deposits.