EX-12 3 a94364exv12.htm EXHIBIT 12 exv12
 

Exhibit 12. Statement re: Computation of Ratios

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

                                   
      Three Months Ended   Nine Months Ended
      September 30,   September 30,
     
 
      2003   2002   2003   2002
     
 
 
 
              (dollars in thousands)        
Income before income taxes and cumulative effect of accounting change
   $ 183,880     $ 161,709     $ 523,853     $ 428,309  
 
    
     
     
     
 
Fixed charges(1):
                                
 
Interest expense
     92,908       123,814       293,184       354,414  
 
Rental expense
     3,973       5,775       14,424       16,245  
 
    
     
     
     
 
 
     96,881       129,589       307,608       370,659  
Less interest on deposits
     39,835       76,477       140,706       218,884  
 
    
     
     
     
 
 
Net fixed charges
     57,046       53,112       166,902       151,775  
 
    
     
     
     
 
 
Earnings, excluding interest on deposits
   $ 240,926     $ 214,821     $ 690,755     $ 580,084  
 
    
     
     
     
 
 
Earnings, including interest on deposits
   $ 280,761     $ 291,298     $ 831,461     $ 798,968  
 
    
     
     
     
 
Ratio of earnings to fixed charges:
                                
 
Excluding interest on deposits
     4.22 x     4.04 x     4.14 x     3.82 x
 
Including interest on deposits
     2.90 x     2.25 x     2.70 x     2.16 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.