EX-12 11 l86594aex12.txt EXHIBIT 12 1 EXHIBIT 12 KEYCORP COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (DOLLARS IN MILLIONS) (UNAUDITED)
YEAR ENDED DECEMBER 31, ------------------------------------------ 2000 1999 1998 1997 1996 ------ ------ ------ ------ ------ COMPUTATION OF EARNINGS Net income.................................................. $1,002 $1,107 $ 996 $ 919 $ 783 Add: Provision for income taxes............................. 515 577 483 426 360 ------ ------ ------ ------ ------ Income before income taxes.............................. 1,517 1,684 1,479 1,345 1,143 Fixed charges, excluding interest on deposits............... 1,820 1,649 1,517 1,085 810 ------ ------ ------ ------ ------ Total earnings for computation, excluding interest on deposits............................................. 3,337 3,333 2,996 2,430 1,953 Interest on deposits........................................ 1,768 1,305 1,359 1,462 1,469 ------ ------ ------ ------ ------ Total earnings for computation, including interest on deposits............................................. $5,105 $4,638 $4,355 $3,892 $3,422 ====== ====== ====== ====== ====== COMPUTATION OF FIXED CHARGES Net rental expense.......................................... $ 146 $ 173 $ 139 $ 123 $ 126 ====== ====== ====== ====== ====== Portion of net rental expense deemed representative of interest.................................................. $ 41 $ 46 $ 35 $ 30 $ 42 Interest on short-term borrowed funds....................... 715 646 801 642 492 Interest on long-term debt, including capital securities.... 1,064 957 681 413 276 ------ ------ ------ ------ ------ Total fixed charges, excluding interest on deposits..... 1,820 1,649 1,517 1,085 810 Interest on deposits........................................ 1,768 1,305 1,359 1,462 1,469 ------ ------ ------ ------ ------ Total fixed charges, including interest on deposits..... $3,588 $2,954 $2,876 $2,547 $2,279 ====== ====== ====== ====== ====== COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Preferred stock dividend requirement on a pre-tax basis..... -- -- -- -- $ 12 Total fixed charges, excluding interest on deposits......... $1,820 $1,649 $1,517 $1,085 810 ------ ------ ------ ------ ------ Combined fixed charges and preferred stock dividends, excluding interest on deposits....................... 1,820 1,649 1,517 1,085 822 Interest on deposits........................................ 1,768 1,305 1,359 1,462 1,469 ------ ------ ------ ------ ------ Combined fixed charges and preferred stock dividends, including interest on deposits....................... $3,588 $2,954 $2,876 $2,547 $2,291 ====== ====== ====== ====== ====== RATIO OF EARNINGS TO FIXED CHARGES Excluding deposit interest.................................. 1.83X 2.02x 1.97x 2.24x 2.41x Including deposit interest.................................. 1.42X 1.57x 1.51x 1.53x 1.50x RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding deposit interest.................................. 1.83X 2.02x 1.97x 2.24x 2.38x Including deposit interest.................................. 1.42X 1.57x 1.51x 1.53x 1.49x
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