EX-12.1 4 g90316exv12w1.txt EX-12.1 COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Exhibit 12.1 POPULAR, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (Dollars in thousands)
For the six months ended Year Ended December 31, ---------------------------------------------------------------------------------- June 30 June 30 2004 2003 2003 2002 2001 2000 1999 ---------------------------------------------------------------------------------- Income before income taxes $315,973 $298,860 $ 597,410 $ 463,606 $ 408,404 $ 375,458 $ 340,036 Fixed charges : Interest expense 379,595 386,139 749,550 863,553 1,039,105 1,167,396 897,932 Estimated interest component of net rental payments 9,256 8,338 17,379 15,123 14,176 13,110 10,970 Total fixed charges including interest on deposits 388,851 394,477 766,929 878,676 1,053,281 1,180,506 908,902 Less: Interest on deposits 157,385 179,813 342,891 432,415 517,881 529,373 452,215 Total fixed charges excluding interest on deposits 231,466 214,664 424,038 446,261 535,400 651,133 456,687 Income before income taxes and fixed charges(including interest on deposits) $704,824 $693,337 $1,364,339 $1,342,283 $1,461,685 $1,555,964 $1,248,938 Income before income taxes and fixed charges(excluding interest on deposits) $547,439 $513,524 $1,021,448 $ 909,867 $ 943,804 $1,026,591 $ 796,723 Preferred stock dividends 5,956 3,962 9,919 2,510 8,350 8,350 8,350 Ratio of earnings to fixed charges Including Interest on Deposits 1.8 1.8 1.8 1.5 1.4 1.3 1.4 Excluding Interest on Deposits 2.4 2.4 2.4 2.0 1.8 1.6 1.7 Ratio of earnings to fixed charges & Preferred Stock Dividends Including Interest on Deposits 1.8 1.7 1.8 1.5 1.4 1.3 1.4 Excluding Interest on Deposits 2.3 2.3 2.3 2.0 1.7 1.5 1.7