EXHIBIT 12
COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
| Three Months Ended March 31, |
Six Months Ended March 31, | |||||||||||
| (dollars in thousands) |
2006 | 2005 | 2006 | 2005 | ||||||||
| Income before taxes on income |
$ | 415,012 | $ | 302,064 | $ | 853,590 | $ | 637,713 | ||||
| Add fixed charges: |
||||||||||||
| Interest expense – excluding interest on deposits |
10,054 | 8,418 | 19,482 | 16,806 | ||||||||
| Interest expense – deposits |
3,549 | 1,683 | 6,515 | 3,122 | ||||||||
| Interest factor on rent 1 |
3,951 | 3,756 | 7,929 | 7,476 | ||||||||
| Total fixed charges |
17,554 | 13,857 | 33,926 | 27,404 | ||||||||
| Earnings before fixed charges and taxes on income |
$ | 432,566 | $ | 315,921 | $ | 887,516 | $ | 665,117 | ||||
| Ratio of earnings to fixed charges – including interest on deposits |
24.6 | 22.8 | 26.2 | 24.3 | ||||||||
| Ratio of earnings to fixed charges – excluding interest on deposits |
30.6 | 25.8 | 32.1 | 27.3 | ||||||||
| 1 | Interest factor on rent represents one-third of rental expense (the approximate portion of rental expense representing interest). |