EX-12.(A) 2 d25691_ex12.txt COMPUTATION EXHIBIT 12(a) BANKERS TRUST CORPORATION AND SUBSIDIARIES COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES (dollars in millions)
Three Months Ended Year Ended December 31, March 31, -------------------------------------------------------------------------------- Earnings: 1996 1997 1998 1999 2000 2001 -------------------------------------------------------------------------------- 1. Income (loss) before income taxes $ 1,131 $ 1,239 $ (77) $(1,415) $ 900 $ 128 2. Add: Fixed charges excluding capitalized interest (Line 10) 5,483 5,959 6,954 3,654 3,027 644 3. Less: Equity in undistributed income of unconsolidated subsidiaries and affiliates 30 (117) 15 75 42 49 -------------------------------------------------------------------------------- 4. Earnings including interest on deposits 6,584 7,315 6,862 2,164 3,885 723 5. Less: Interest on deposits 1,355 2,076 2,195 1,424 998 174 -------------------------------------------------------------------------------- 6. Earnings excluding interest on deposits $ 5,229 $ 5,239 $ 4,667 $ 740 $ 2,887 $ 549 ================================================================================ Fixed Charges: 7. Interest Expense $ 5,451 $ 5,926 $ 6,919 $ 3,612 $ 2,988 $ 640 8. Estimated interest component of net rental expense 32 33 35 42 39 4 9. Amortization of debt issuance expense -- -- -- -- -- -- -------------------------------------------------------------------------------- 10. Total fixed charges including interest on deposits and excluding capitalized interest 5,483 5,959 6,954 3,654 3,027 644 11. Add: Capitalized interest -- -- -- -- -- -- -------------------------------------------------------------------------------- 12. Total fixed charges 5,483 5,959 6,954 3,654 3,027 644 13. Less: Interest on deposits (Line 5) 1,355 2,076 2,195 1,424 998 174 -------------------------------------------------------------------------------- 14. Fixed charges excluding interest on deposits $ 4,128 $ 3,883 $ 4,759 $ 2,230 $ 2,029 $ 470 ================================================================================ Consolidated Ratios of Earnings to Fixed Charges: Including interest on deposits (Line 4/Line 12) 1.20 1.23 .99 N/A 1.28 1.12 ================================================================================ Excluding interest on deposits (Line 6/Line 14) 1.27 1.35 .98 N/A 1.42 1.17 ================================================================================
For the years ended December 31, 1999 and 1998, earnings, as defined, did not cover fixed charges, including and excluding interest on deposits by $1,490 million and $92 million, respectively, as a result of a net loss recorded during the period. N/A - Not Applicable --------------------