EX-12.(B) 3 ex-12b_24019.txt STATEMENT RE: COMPUTATION OF RATIOS EXHIBIT 12(b) BANKERS TRUST CORPORATION AND SUBSIDIARIES COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENTS (dollars in millions)
Nine Months Ended Year Ended December 31, September 30, ----------------------------------------------------------------- 1995 1996 1997 1998 1999 2000 ----------------------------------------------------------------- Earnings: 1. Income (loss) before income taxes $ 469 $ 1,131 $ 1,239 $ (77) $(1,415) $ 709 2. Add: Fixed charges excluding capitalized interest (Line 13) 5,138 5,483 5,959 6,954 3,654 2,300 3. Less: Equity in undistri- buted income of unconsolidated subsidiaries and affiliates 28 30 (117) 15 75 39 ----------------------------------------------------------------- 4. Earnings including interest on deposits 5,579 6,584 7,315 6,862 2,164 2,970 5. Less: Interest on deposits 1,360 1,355 2,076 2,195 1,424 793 ----------------------------------------------------------------- 6. Earnings excluding interest on deposits $ 4,219 $ 5,229 $ 5,239 $ 4,667 $ 740 $ 2,177 ================================================================= Preferred Stock Dividend Requirements: 7. Preferred stock dividend requirements $ 51 $ 51 $ 49 $ 32 $ 23 $ 19 8. Ratio of income (loss) from continuing operations before income taxes to income (loss) from continuing operations after income taxes 151% 148% 143% 105% 88% 237% ----------------------------------------------------------------- 9. Preferred stock dividend requirements on a pretax basis $ 77 $ 75 $ 70 $ 34 $ 20 $ 45 ================================================================= Fixed Charges: 10. Interest Expense $ 5,105 $ 5,451 $ 5,926 $ 6,919 $ 3,612 $ 2,271 11. Estimated interest component of net rental expense 33 32 33 35 42 29 12. Amortization of debt issuance expense -- -- -- -- -- -- ----------------------------------------------------------------- 13. Total fixed charges including interest on deposits and excluding capitalized interest 5,138 5,483 5,959 6,954 3,654 2,300 14. Add: Capitalized interest -- -- -- -- -- -- ----------------------------------------------------------------- 15. Total fixed charges 5,138 5,483 5,959 6,954 3,654 2,300 16. Add: Preferred stock dividend require- ments - pretax (Line 9) 77 75 70 34 20 45 ----------------------------------------------------------------- 17. Total combined fixed charges and preferred stock dividend require- ments on a pretax basis 5,215 5,558 6,029 6,988 3,674 2,345 18. Less: Interest on deposits (Line 5) 1,360 1,355 2,076 2,195 1,424 793 ----------------------------------------------------------------- 19. Combined fixed charges and preferred stock dividend requirements on a pretax basis excluding interest on deposits $ 3,855 $ 4,203 $ 3,953 $ 4,793 $ 2,250 $ 1,552 ================================================================= Consolidated Ratios of Earnings to Combined Fixed Charges and Preferred Stock Dividend Requirements: Including interest on deposits (Line 4/Line 17) 1.07 1.18 1.21 0.98 N/A 1.27 ================================================================= Excluding interest on deposits (Line 6/Line 19) 1.09 1.24 1.32 0.97 N/A 1.40 =================================================================
For the years ended December 31, 1999 and 1998, earnings, as defined, did not cover fixed charges, and preferred stock dividend requirements, including and excluding interest on deposits, by $1,510 million and by $126 million, respectively, as a result of a net loss recorded during the period. N/A - Not Applicable.