EX-12 2 dex12.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

EXHIBIT 12

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

(dollars in thousands)

 

for the fiscal years ended September 30,

    2007    2006    2005    2004    2003

Income before taxes excluding equity in income of investees, minority interest in earnings of consolidated subsidiaries and capitalized interest

    $ 2,406,424    $ 1,824,729    $ 1,397,275    $ 977,039    $ 694,399

Additions:

               

Dividends received from equity-method investees

      19,537      22,486      —        69      —  

Fixed charges

               

Interest expense-excluding interest on deposits

      23,595      30,155      34,563      32,254      22,924

Interest expense-deposits

      14,344      14,391      7,651      4,295      6,122

Interest factor on rent1

      17,318      16,736      15,717      13,020      13,413
                                  

Total fixed charges

    $ 55,257    $ 61,282    $ 57,931    $ 49,569    $ 42,459
                                  

Adjusted earnings

    $ 2,481,218    $ 1,908,497    $ 1,455,206    $ 1,026,677    $ 736,858
                                  

Ratio of adjusted earnings to fixed charges-including interest on deposits

      44.9      31.1      25.1      20.7      17.4

Ratio of adjusted earnings to fixed charges-excluding interest on deposits

      60.3      40.4      28.8      22.6      20.1

1

Interest factor on rent represents one-third of rental expense (the approximate portion of rental expense representing interest).

 

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