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Exhibit No. 12.1
UnionBancal Corporation and Subsidiaries
Computation of Ratio of Earnings to Combined Fixed Charges Requirements
| For the Years Ended December 31, | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
(In millions, except ratios) | 2005 | 2006 | 2007 | 2008 | 2009 | |||||||||||||
EXCLUDING INTEREST ON DEPOSITS | ||||||||||||||||||
Income (loss) before income taxes and effect of accounting changes | $ | 1,090 | $ | 1,044 | $ | 868 | $ | 412 | $ | (226 | ) | |||||||
Fixed Charges: | ||||||||||||||||||
Interest expense, excluding interest on deposits | 83 | 194 | 278 | 288 | 132 | |||||||||||||
One third of rents, net income from subleases (A) | 15 | 13 | 15 | 16 | 19 | |||||||||||||
Total fixed charges | 98 | 207 | 293 | 304 | 151 | |||||||||||||
Earnings before taxes, fixed charges, and effect of accounting changes, excluding capitalized interest | $ | 1,188 | $ | 1,251 | $ | 1,161 | $ | 716 | $ | (75 | ) | |||||||
Ratio of earnings to fixed charges requirements | 12.12 | 6.04 | 3.96 | 2.36 | (0.50 | ) | ||||||||||||
INCLUDING INTEREST ON DEPOSITS | ||||||||||||||||||
Fixed charges | $ | 98 | $ | 207 | $ | 293 | $ | 304 | $ | 151 | ||||||||
Add: Interest on deposits | 303 | 649 | 991 | 639 | 408 | |||||||||||||
Total fixed charges including interest on deposits | $ | 401 | $ | 856 | $ | 1,284 | $ | 943 | $ | 559 | ||||||||
Earnings before taxes, fixed charges, and effect of accounting changes, excluding capitalized interest, as above | $ | 1,188 | $ | 1,251 | $ | 1,161 | $ | 716 | $ | (75 | ) | |||||||
Add: Interest on deposits | 303 | 649 | 991 | 639 | 408 | |||||||||||||
Total earnings before taxes, fixed charges, effect of accounting changes, and interest on deposits | $ | 1,491 | $ | 1,900 | $ | 2,152 | $ | 1,355 | $ | 333 | ||||||||
Ratio of earnings to fixed charges requirements | 3.72 | 2.22 | 1.68 | 1.44 | 0.60 | |||||||||||||
- (A)
- The proportion deemed representative of the interest factor.
UnionBancal Corporation and Subsidiaries Computation of Ratio of Earnings to Combined Fixed Charges Requirements