EX-12 5 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,

   2010     2009     2008     2007     2006  

Income before taxes excluding equity in income of investees, redeemable noncontrolling interests of consolidated subsidiaries and capitalized interest

   $ 2,050,216      $ 1,270,789      $ 2,219,602      $ 2,406,424      $ 1,824,729   

Additions:

          

Dividends received from equity method investees

     18,106        7,187        10,863        19,537        22,486   

Interest on uncertain tax positions included in income before taxes

     5,064        3,507        4,252        0        0   

Fixed charges

          

Interest expense-excluding interest on deposits

     18,401        6,396        29,991        23,595        30,155   

Interest expense-deposits

     4,723        6,153        8,893        14,344        14,391   

Interest on uncertain tax positions not related to third party

     (5,064 )      (3,507 )      (4,252 )      0        0   

Interest factor on rent1

     22,197        19,577        19,271        17,318        16,736   
                                       

Total fixed charges

     40,257        28,619        53,903        55,257        61,282   
                                       

Adjusted earnings

   $ 2,113,643      $ 1,310,102      $ 2,288,620      $ 2,481,218      $ 1,908,497   
                                       

Ratio of adjusted earnings to fixed charges including interest on deposits

     52.5        45.8        42.5        44.9        31.1   

Ratio of adjusted earnings to fixed charges excluding interest on deposits

     59.3        58.0        50.6        60.3        40.4   

 

1

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