EX-12 4 dex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT (12) HELLER FINANCIAL, INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (unaudited) (dollars in millions)
For the Three Months Ended March 31, 2001 -------------- Net income before income taxes, minority interest, and cumulative effect of change in accounting for derivatives....................................... $ 99 Add-Fixed charges Interest and debt expense.................................................. 249 One-third of rentals....................................................... 2 ----- Total fixed charges................................................... 251 ----- Net income, as adjusted...................................................... $ 350 ----- Ratio of earnings to fixed charges........................................... 1.39x ===== Preferred stock dividends on a pre-tax basis................................. $ 10 Total combined fixed charges and preferred stock dividends............ 261 ----- Ratio of earnings to combined fixed charges and preferred stock dividends.................................................. 1.34x =====
For purposes of computing the ratio of earnings to combined fixed charges and preferred stock dividends, "earnings" includes income before income taxes, the minority interest, the cumulative effect of change in accounting for derivatives, and fixed charges. "Combined fixed charges and preferred stock dividends" includes interest on all indebtedness, one-third of annual rentals (approximate portion representing interest) and preferred stock dividends on a pre-tax basis.