Exhibit 12.1
RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
| Year Ended December 31, | Nine Months Ended | |||||||||||||||||||||||
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | |||||||||||||||||||
| (Dollars in millions) | ||||||||||||||||||||||||
Ratio of earnings to fixed charges | N/A | 8.71 | 10.74 | N/A | 1.29 | 9.77 | ||||||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | N/A | 8.71 | 10.74 | N/A | 1.29 | 9.77 | ||||||||||||||||||
Insufficiency of earnings to cover fixed charges | $ | 4,574 | N/A | N/A | $ | 319 | N/A | N/A | ||||||||||||||||
Insufficiency of earnings to cover combined fixed charges and preferred stock dividends | $ | 4,574 | N/A | N/A | $ | 319 | N/A | N/A | ||||||||||||||||
N/A means not applicable.
