EX-12 6 exhibit12.txt EXHIBIT 12 ----------
COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES THREE MONTHS ENDED DECEMBER 31, (in thousands) 2004 2003 ---------------------------------------------------------------------------------------------------- Income before taxes on income and cumulative effect of an accounting change $335,649 $235,940 Add fixed charges: Interest expense - excluding interest on deposits 8,388 7,676 Interest expense - deposits 1,408 1,142 Interest factor on rent /1 3,720 3,371 ---------------------------------------------------------------------------------------------------- Total fixed charges 13,516 12,189 ---------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------- Earnings before fixed charges and taxes on income $349,165 $248,129 ---------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges - including interest on deposits 25.8 20.4 Ratio of earnings to fixed charges - excluding interest on deposits 28.7 22.4 ---------------------------------------------------------------------------------------------------- 1 Interest factor on rent represents one-third of rental expense (the approximate portion of rental expense representing interest).