EX-12 2 a69915ex12.txt EXHIBIT 12 1 PART IV (continued) -------------------------------------------------------------------------------- EXHIBIT 12 EXHIBIT 12. STATEMENT RE: COMPUTATION OF RATIOS BANCWEST CORPORATION AND SUBSIDIARIES COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
YEAR ENDED DECEMBER 31, ---------------------------------------------------- (dollars in thousands) 2000 1999 1998 1997 1996 ------------------------------------------------------------------------------------------------- Income before income taxes ................. $368,621 $296,129 $144,901 $138,185 $123,716 Fixed charges (1): Interest expense ......................... 562,922 446,877 315,822 281,232 270,755 Rental expense ........................... 15,290 15,017 13,659 12,502 6,574 ------------------------------------------------------------------------------------------------- 578,212 461,894 329,481 293,734 277,329 Less interest on deposits .................. 458,204 368,621 253,860 220,116 199,094 ------------------------------------------------------------------------------------------------- Net fixed charges ........................ 120,008 93,273 75,621 73,618 78,235 ------------------------------------------------------------------------------------------------- Earnings, excluding interest on deposits.. $488,629 $389,402 $220,522 $211,803 $201,951 ================================================================================================= Earnings, including interest on deposits.. $946,833 $758,023 $474,382 $431,919 $401,045 ================================================================================================= Ratio of earnings to fixed charges: Excluding interest on deposits ........... 4.07x 4.17x 2.92x 2.88x 2.58x Including interest on deposits ........... 1.64x 1.64x 1.44x 1.47x 1.45x
(1) For purposes of computing the consolidated ratios of earnings to fixed charges, earnings represent income before income taxes and 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, consist of the foregoing items plus interest on deposits. 76 BancWest Corporation and Subsidiaries