EX-12 5 dex12.txt COMPUTATION OF RATIO OF EARNINGS Exhibit 12 Marshall & Ilsley Corporation Computation of Ratio of Earnings to Fixed Charges ($000's)
Years Ended December 31, ---------------------------------------------------------- 2001 2000 1999 1998 1997 ---------- ---------- ---------- ---------- ---------- Earnings: Earnings before income taxes and extraordinary items........................ $ 501,045 $ 470,350 $ 527,939 $ 465,285 $ 388,172 Fixed charges, excluding interest on deposits 321,059 321,812 222,172 206,546 175,609 ---------- ---------- ---------- ---------- ---------- Earnings including fixed charges but excluding interest on deposits............. 822,104 792,162 750,111 671,831 563,781 Interest on deposits......................... 566,899 772,016 585,864 564,540 460,418 ---------- ---------- ---------- ---------- ---------- Earnings including fixed charges and interest on deposits....................... $1,389,003 $1,564,178 $1,335,975 $1,236,371 $1,024,199 ========== ========== ========== ========== ========== Fixed Charges: Interest Expense: Short-term borrowings..................... $ 188,587 $ 224,187 $ 142,294 $ 126,624 $ 111,193 Long-term borrowings...................... 110,842 78,773 63,145 66,810 54,175 One-third of rental expense for all operating leases (the amount deemed representative of the interest factor).. 21,630 18,852 16,733 13,112 10,241 ---------- ---------- ---------- ---------- ---------- Fixed charges excluding interest on deposits. 321,059 321,812 222,172 206,546 175,609 Interest on deposits......................... 566,899 772,016 585,864 564,540 460,418 ---------- ---------- ---------- ---------- ---------- Fixed charges including interest on deposits. $ 887,958 $1,093,828 $ 808,036 $ 771,086 $ 636,027 ========== ========== ========== ========== ========== Ratio of Earnings to Fixed Charges: Excluding interest on deposits............... 2.56x 2.46x 3.38x 3.25x 3.21x Including interest on deposits............... 1.56x 1.43x 1.65x 1.60x 1.61x