EX-12 4 ex-12.txt STATEMENTS RE COMPUTATION OF RATIOS EXHIBIT 12 BANKERS TRUST CORPORATION AND SUBSIDIARIES COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES (dollars in millions)
Year Ended December 31, ---------------------------------------------------------------------------------------------------------------------------------- 1997 1998 1999 2000 2001 ---------------------------------------------------------------------------------------------------------------------------------- Earnings: 1. Income (loss) before income taxes $ 1,239 $ (77) $(1,415) $ 900 $ 333 2. Add: Fixed charges excluding capitalized interest (Line 10) 5,959 6,954 3,654 3,027 1,928 3. Less: Equity in undistributed income of unconsolidated subsidiaries and affiliates (117) 15 75 42 264 ---------------------------------------------------------------------------------------------------------------------------------- 4. Earnings including interest on deposits 7,315 6,862 2,164 3,885 1,997 5. Less: Interest on deposits 2,076 2,195 1,424 998 641 ---------------------------------------------------------------------------------------------------------------------------------- 6. Earnings excluding interest on deposits $ 5,239 $ 4,667 $ 740 $2,887 $1,356 ================================================================================================================================== Fixed Charges: 7. Interest expense $ 5,926 $ 6,919 $ 3,612 $2,988 $1,912 8. Estimated interest component of net rental expense 33 35 42 39 16 9. Amortization of debt issuance expense -- -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------------- 10. Total fixed charges including interest on deposits and excluding capitalized interest 5,959 6,954 3,654 3,027 1,928 11. Add: Capitalized interest -- -- -- -- -- ---------------------------------------------------------------------------------------------------------------------------------- 12. Total fixed charges 5,959 6,954 3,654 3,027 1,928 13. Less: Interest on deposits (Line 5) 2,076 2,195 1,424 998 641 ---------------------------------------------------------------------------------------------------------------------------------- 14. Fixed charges excluding interest on deposits $ 3,883 $ 4,759 $ 2,230 $2,029 $1,287 ================================================================================================================================== Consolidated Ratios of Earnings to Fixed Charges: Including interest on deposits (Line 4/Line 12) 1.23 .99 N/A 1.28 1.04 ================================================================================================================================== Excluding interest on deposits (Line 6/Line 14) 1.35 .98 N/A 1.42 1.05 ==================================================================================================================================
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. Bankers Trust Corporation and its Subsidiaries 61