EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
Three Months Ended | Nine Months Ended | |||||||||||
(Dollars in Millions) | September 30, 2006 | September 30, 2006 | ||||||||||
Earnings | ||||||||||||
1. | Net income | $1,203 | $3,557 | |||||||||
2. | Applicable income taxes | 532 | 1,678 | |||||||||
3. | Income before income taxes (1 + 2) | $1,735 | $5,235 | |||||||||
4. | Fixed charges: | |||||||||||
a. | Interest expense excluding interest on deposits | $849 | $2,276 | |||||||||
b. | Portion of rents representative of interest and amortization of debt expense | 18 | 53 | |||||||||
c. | Fixed charges excluding interest on deposits (4a + 4b) | 867 | 2,329 | |||||||||
d. | Interest on deposits | 640 | 1,721 | |||||||||
e. | Fixed charges including interest on deposits (4c + 4d) | $1,507 | $4,050 | |||||||||
5. | Amortization of interest capitalized | $— | $— | |||||||||
6. | Earnings excluding interest on deposits (3 + 4c + 5) | 2,602 | 7,564 | |||||||||
7. | Earnings including interest on deposits (3 + 4e + 5) | 3,242 | 9,285 | |||||||||
8. | Fixed charges excluding interest on deposits (4c) | 867 | 2,329 | |||||||||
9. | Fixed charges including interest on deposits (4e) | 1,507 | 4,050 | |||||||||
Ratio of Earnings to Fixed Charges | ||||||||||||
10. | Excluding interest on deposits (line 6/line 8) | 3.00 | 3.25 | |||||||||
11. | Including interest on deposits (line 7/line 9) | 2.15 | 2.29 | |||||||||