Exhibit No. 12.1
UNIONBANCAL CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES REQUIREMENTS
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| For the Years Ended December 31, |
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(In millions, except ratios) |
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| 2002 |
| 2003 |
| 2004 |
| 2005 |
| 2006 |
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EXCLUDING INTEREST ON DEPOSITS |
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Income before income taxes and effect of accounting changes |
| $ | 736 |
| $ | 824 |
| $ | 1,109 |
| $ | 1,087 |
| $ | 1,035 |
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Fixed Charges: |
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Interest expense, excluding interest on deposits |
| 59 |
| 37 |
| 38 |
| 82 |
| 194 |
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One third of rents, net income from subleases (A) |
| 11 |
| 11 |
| 14 |
| 17 |
| 15 |
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Total fixed charges |
| 70 |
| 48 |
| 52 |
| 99 |
| 209 |
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Earnings before taxes, fixed charges, and effect of accounting changes, excluding capitalized interest |
| $ | 806 |
| $ | 872 |
| $ | 1,161 |
| $ | 1,186 |
| $ | 1,244 |
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Ratio of earnings to fixed charges requirements |
| 11.51 |
| 18.17 |
| 22.33 |
| 11.98 |
| 5.95 |
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INCLUDING INTEREST ON DEPOSITS |
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Fixed charges |
| $ | 70 |
| $ | 48 |
| $ | 52 |
| $ | 99 |
| $ | 209 |
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Add: Interest on deposits |
| 220 |
| 152 |
| 147 |
| 303 |
| 650 |
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Total fixed charges including interest on deposits |
| $ | 290 |
| $ | 200 |
| $ | 199 |
| $ | 402 |
| $ | 859 |
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Earnings before taxes, fixed charges, and effect of accounting changes, excluding capitalized interest, as above |
| $ | 806 |
| $ | 872 |
| $ | 1,161 |
| $ | 1,186 |
| $ | 1,244 |
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Add: Interest on deposits |
| 220 |
| 152 |
| 147 |
| 303 |
| 650 |
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Total earnings before taxes, fixed charges, effect of accounting changes, and interest on deposits |
| $ | 1,026 |
| $ | 1,024 |
| $ | 1,308 |
| $ | 1,489 |
| $ | 1,894 |
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Ratio of earnings to fixed charges requirements |
| 3.54 |
| 5.12 |
| 6.57 |
| 3.70 |
| 2.20 |
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(A) The proportion deemed representative of the interest factor.