EX-12 23 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,

    2009     2008     2007    2006    2005

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

    $ 1,270,789      $ 2,219,602      $ 2,406,424    $ 1,824,729    $ 1,397,275

Additions:

             

Dividends received from equity method investees

      7,187        10,863        19,537      22,486      —  

Interest on uncertain tax positions included in income before taxes

      3,507        4,252        —        —        —  

Fixed charges

             

Interest expense-excluding interest on deposits

      6,396        29,991        23,595      30,155      34,563

Interest expense-deposits

      6,153        8,893        14,344      14,391      7,651

Interest on uncertain tax positions not related to third party

      (3,507 )      (4,252 )      —        —        —  

Interest factor on rent1

      19,577        19,271        17,318      16,736      15,717
                                    

Total fixed charges

      28,619        53,903        55,257      61,282      57,931
                                    

Adjusted earnings

    $ 1,310,102      $ 2,288,620      $ 2,481,218    $ 1,908,497    $ 1,455,206
                                    

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

      45.8        42.5        44.9      31.1      25.1

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

      58.0        50.6        60.3      40.4      28.8

 

1

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