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) | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||
EXCLUDING INTEREST ON DEPOSITS | ||||||||||||||||||||
Income (loss) before income taxes and effect of accounting changes | $ | 1,081 | $ | 793 | $ | (226 | ) | $ | 412 | $ | 868 | |||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense, excluding interest on deposits | 155 | 112 | 132 | 288 | 278 | |||||||||||||||
One third of rents, net income from subleases (A) | 26 | 24 | 19 | 16 | 15 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total fixed charges | 181 | 136 | 151 | 304 | 293 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Earnings before taxes, fixed charges, and effect of accounting changes, excluding capitalized interest | $ | 1,262 | $ | 929 | $ | (75 | ) | $ | 716 | $ | 1,161 | |||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratio of earnings to fixed charges requirements | 6.96 | 6.81 | (0.50 | ) | 2.36 | 3.96 | ||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
INCLUDING INTEREST ON DEPOSITS | ||||||||||||||||||||
Fixed charges | $ | 181 | $ | 136 | $ | 151 | $ | 304 | $ | 293 | ||||||||||
Add: Interest on deposits | 216 | 290 | 408 | 639 | 991 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total fixed charges including interest on deposits | $ | 397 | $ | 426 | $ | 559 | $ | 943 | $ | 1,284 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Earnings before taxes, fixed charges, and effect of accounting changes, excluding capitalized interest, as above | $ | 1,262 | $ | 929 | $ | (75 | ) | $ | 716 | $ | 1,161 | |||||||||
Add: Interest on deposits | 216 | 290 | 408 | 639 | 991 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total earnings before taxes, fixed charges, effect of accounting changes, and interest on deposits | $ | 1,478 | $ | 1,219 | $ | 333 | $ | 1,355 | $ | 2,152 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratio of earnings to fixed charges requirements | 3.72 | 2.86 | 0.60 | 1.44 | 1.68 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
(A) | The proportion deemed representative of the interest factor. |