EXHIBIT 12.1
M&T BANK CORPORATION AND SUBSIDIARIES
Computations of Consolidated Ratios of Earnings to Fixed Charges
Year Ended December 31 | ||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Excluding interest on deposits | ||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense (excluding interest on deposits) | $ | 200,413 | 226,583 | 244,896 | 274,584 | 347,166 | ||||||||||||||
Interest factor within rent expense (a) | 36,490 | 36,696 | 34,341 | 31,565 | 29,670 | |||||||||||||||
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Total fixed charges | $ | 236,903 | 263,279 | 279,237 | 306,149 | 376,836 | ||||||||||||||
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Earnings: | ||||||||||||||||||||
Income before income taxes | $ | 1,757,549 | 1,552,526 | 1,224,600 | 1,092,789 | 519,291 | ||||||||||||||
Fixed charges | 236,903 | 263,279 | 279,237 | 306,149 | 376,836 | |||||||||||||||
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Total earnings | $ | 1,994,452 | 1,815,805 | 1,503,837 | 1,398,938 | 896,127 | ||||||||||||||
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Ratio of earnings to fixed charges, excluding interest on deposits | x | 8.42 | 6.90 | 5.39 | 4.57 | 2.38 | ||||||||||||||
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Including interest on deposits | ||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 284,105 | 343,169 | 402,331 | 462,269 | 669,449 | ||||||||||||||
Interest factor within rent expense (a) | 36,490 | 36,696 | 34,341 | 31,565 | 29,670 | |||||||||||||||
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Total fixed charges | $ | 320,595 | 379,865 | 436,672 | 493,834 | 699,119 | ||||||||||||||
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Earnings: | ||||||||||||||||||||
Income before income taxes | $ | 1,757,549 | 1,552,526 | 1,224,600 | 1,092,789 | 519,291 | ||||||||||||||
Fixed charges | 320,595 | 379,865 | 436,672 | 493,834 | 699,119 | |||||||||||||||
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Total earnings | $ | 2,078,144 | 1,932,391 | 1,661,272 | 1,586,623 | 1,218,410 | ||||||||||||||
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Ratio of earnings to fixed charges, including interest on deposits | x | 6.48 | 5.09 | 3.80 | 3.21 | 1.74 | ||||||||||||||
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(a) The portion of rents shown as representative of the interest factor is one-third of total net operating lease expenses.