Exhibit 12.1
Ratio of Earnings to Fixed Charges
Six Months Ended June 30, 2016 | Years Ended December 31, | |||||||||||||||||||||||
(in millions, except ratios) | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income tax expense | $ | 197.1 | $ | 390.5 | $ | 380.6 | $ | 347.6 | $ | 369.3 | $ | 292.1 | ||||||||||||
Fixed charges including interest on deposits | 85.3 | 153.9 | 135.5 | 132.3 | 120.7 | 141.3 | ||||||||||||||||||
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Earnings including interest on deposits | 282.4 | 544.4 | 516.1 | 479.9 | 490.0 | 433.4 | ||||||||||||||||||
Less interest on deposits | 50.6 | 95.5 | 80.9 | 81.1 | 90.8 | 107.4 | ||||||||||||||||||
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Earnings excluding interest on deposits | $ | 231.8 | $ | 448.9 | $ | 435.2 | $ | 398.8 | $ | 399.2 | $ | 326.0 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest on deposits | $ | 50.6 | $ | 95.5 | $ | 80.9 | $ | 81.1 | $ | 90.8 | $ | 107.4 | ||||||||||||
Interest on borrowings | 25.8 | 41.3 | 37.8 | 34.7 | 15.4 | 21.1 | ||||||||||||||||||
Estimated interest component of rent expense | 8.9 | 17.1 | 16.8 | 16.5 | 14.5 | 12.8 | ||||||||||||||||||
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Fixed charges including interest on deposits | 85.3 | 153.9 | 135.5 | 132.3 | 120.7 | 141.3 | ||||||||||||||||||
Less interest on deposits | 50.6 | 95.5 | 80.9 | 81.1 | 90.8 | 107.4 | ||||||||||||||||||
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Fixed charges excluding interest on deposits | $ | 34.7 | $ | 58.4 | $ | 54.6 | $ | 51.2 | $ | 29.9 | $ | 33.9 | ||||||||||||
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Ratio of earnings to fixed charges: | ||||||||||||||||||||||||
Excluding interest on deposits | 6.68 | 7.69 | 7.97 | 7.79 | 13.35 | 9.62 | ||||||||||||||||||
Including interest on deposits | 3.31 | 3.54 | 3.81 | 3.63 | 4.06 | 3.07 |