EX-12 4 d27355_exh12.txt COMPUTATION OF CONSOLIDATED RATIOS EXHIBIT 12 BANKERS TRUST CORPORATION AND SUBSIDIARIES COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES (dollars in millions)
Nine Months Ended Year Ended December 31, Sept. 30, ------------------------------------------------------------ Earnings: 1996 1997 1998 1999 2000 2001 ------------------------------------------------------------ 1. Income (loss) before income taxes $ 1,131 $ 1,239 $ (77) $(1,415) $ 900 $ 295 2. Add: Fixed charges excluding capitalized interest (Line 10) 5,483 5,959 6,954 3,654 3,027 1,578 3. Less: Equity in undistri- buted income of unconsolidated subsidiaries and affiliates 30 (117) 15 75 42 115 ------------------------------------------------------------ 4. Earnings including interest on deposits 6,584 7,315 6,862 2,164 3,885 1,758 5. Less: Interest on deposits 1,355 2,076 2,195 1,424 998 529 ------------------------------------------------------------ 6. Earnings excluding interest on deposits $ 5,229 $ 5,239 $ 4,667 $ 740 $ 2,887 $ 1,229 ------------------------------------------------------------ Fixed Charges: 7. Interest Expense $ 5,451 $ 5,926 $ 6,919 $ 3,612 $ 2,988 $ 1,566 8. Estimated interest component of net rental expense 32 33 35 42 39 12 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 1,578 11. Add: Capitalized interest -- -- -- -- -- -- ------------------------------------------------------------ 12. Total fixed charges 5,483 5,959 6,954 3,654 3,027 1,578 13. Less: Interest on deposits (Line 5) 1,355 2,076 2,195 1,424 998 529 ------------------------------------------------------------ 14. Fixed charges excluding interest on deposits $ 4,128 $ 3,883 $ 4,759 $ 2,230 $ 2,029 $ 1,049 ============================================================ Consolidated Ratios of Earnings to Fixed Charges: Including interest on deposits (Line 4/Line 12) 1.20 1.23 .99 N/A 1.28 1.11 ============================================================ 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.