EX-12 3 dex12.htm STATEMENT, RE RATION OF EARNINGS TO FIXED CHARGES Statement, re Ration of Earnings to Fixed Charges

EXHIBIT 12

 

Computation of Ratios of Earnings to Fixed Charges

 

     2004
     2003
     2002
     2001
     2000
  
     (In thousands)  

Income before Income Taxes

    $ 265,679     $ 227,613     $ 214,743     $ 191,897     $ 189,741  

Fixed Charges:

                                         

Interest Expense

      263,501       274,165       322,261       480,240       517,754  

1/3 Rent Expense

      10,392       9,713       7,816       6,438       5,794  
    
 
 
 
 

Total Fixed Charges

      273,893       283,878       330,077       486,678       523,548  

Adjusted Earnings

    $ 539,572     $ 511,041     $ 544,820     $ 678,575     $ 713,289  

Ratio of Earnings to Fixed Charges

      1.97 x     1.80 x     1.65 x     1.39 x     1.36 x

Interest or Deposits

    $ 141,120     $ 139,695     $ 185,520     $ 323,499     $ 359,460  

Ratio of Earnings to Fixed Charges excluding interest on deposits

      3.00 x     2.58 x     2.49 x     2.18 x     2.16 x

 

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