M&T Bank Corporation Computations of Consolidated Ratios of Earnings to Fixed Charges (Dollars in thousands) | Exhibit 12.1 |
Year Ended December 31, | ||||||||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||||
Excluding Interest on Deposits: | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest Expense (excluding interest on deposits) | $ | 735,257 | 561,686 | 437,820 | 272,538 | 247,316 | ||||||||||||||||||
Interest Factor Within Rent Expense (a) | 21,608 | 20,135 | 19,217 | 19,570 | 17,170 | |||||||||||||||||||
Total Fixed Charges | $ | 756,865 | 581,821 | 457,037 | 292,108 | 264,486 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income Before Income Taxes | $ | 963,537 | 1,231,642 | 1,170,919 | 1,066,523 | 850,670 | ||||||||||||||||||
Fixed Charges | 756,865 | 581,821 | 457,037 | 292,108 | 264,486 | |||||||||||||||||||
Total Earnings | $ | 1,720,402 | 1,813,463 | 1,627,956 | 1,358,631 | 1,115,156 | ||||||||||||||||||
Ratio of Earnings to Fixed Charges, Excluding Interest on Deposits | x | 2.27 | 3.12 | 3.56 | 4.65 | 4.22 | ||||||||||||||||||
Including Interest on Deposits: | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest Expense | $ | 1,694,576 | 1,496,552 | 994,351 | 564,160 | 527,810 | ||||||||||||||||||
Interest Factor Within Rent Expense (a) | 21,608 | 20,135 | 19,217 | 19,570 | 17,170 | |||||||||||||||||||
Total Fixed Charges | $ | 1,716,184 | 1,516,687 | 1,013,568 | 583,730 | 544,980 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income Before Income Taxes | $ | 963,537 | 1,231,642 | 1,170,919 | 1,066,523 | 850,670 | ||||||||||||||||||
Fixed Charges | 1,716,184 | 1,516,687 | 1,013,568 | 583,730 | 544,980 | |||||||||||||||||||
Total Earnings | $ | 2,679,721 | 2,748,329 | 2,184,487 | 1,650,253 | 1,395,650 | ||||||||||||||||||
Ratio of Earnings to Fixed Charges, Including Interest on Deposits | x | 1.56 | 1.81 | 2.16 | 2.83 | 2.56 | ||||||||||||||||||
(a) | The portion of rents shown as representative of the interest factor is one-third of total net operating lease expenses. |