Exhibit (12)(a)
M&T Bank Corporation
Computations of Consolidated Ratios of Earnings to Fixed Charges
(Dollars in thousands)
For the Six Months | ||||||||||||||||||||||||||||
Ended June 30 | Year Ended December 31 | |||||||||||||||||||||||||||
2018 | 2017 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Excluding interest on deposits | ||||||||||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense (excluding interest on deposits) | $ | 114,265 | 91,962 | 190,883 | 234,642 | 254,443 | 217,348 | 200,413 | ||||||||||||||||||||
Interest factor within rent expense (a) | 18,563 | 19,428 | 40,917 | 40,727 | 36,385 | 36,815 | 36,490 | |||||||||||||||||||||
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Total fixed charges | $ | 132,828 | 111,390 | 231,800 | 275,369 | 290,828 | 254,163 | 236,903 | ||||||||||||||||||||
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Earnings: | ||||||||||||||||||||||||||||
Income before income taxes (b) | $ | 1,112,493 | 1,114,634 | 2,323,862 | 2,058,398 | 1,674,692 | 1,642,245 | 1,765,568 | ||||||||||||||||||||
Fixed charges | 132,828 | 111,390 | 231,800 | 275,369 | 290,828 | 254,163 | 236,903 | |||||||||||||||||||||
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Total earnings (b) | $ | 1,245,321 | 1,226,024 | 2,555,662 | 2,333,767 | 1,965,520 | 1,896,408 | 2,002,471 | ||||||||||||||||||||
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Ratio of earnings to fixed charges, excluding interest on deposits | x | 9.38 | | 11.01 | 11.03 | 8.48 | 6.76 | 7.46 | 8.45 | |||||||||||||||||||
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Including interest on deposits | ||||||||||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 226,751 | 183,986 | 386,751 | 425,984 | 328,257 | 280,431 | 284,105 | ||||||||||||||||||||
Interest factor within rent expense (a) | 18,563 | 19,428 | 40,917 | 40,727 | 36,385 | 36,815 | 36,490 | |||||||||||||||||||||
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Total fixed charges | $ | 245,314 | 203,414 | 427,668 | 466,711 | 364,642 | 317,246 | 320,595 | ||||||||||||||||||||
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Earnings: | ||||||||||||||||||||||||||||
Income before income taxes (b) | $ | 1,112,493 | 1,114,634 | 2,323,862 | 2,058,398 | 1,674,692 | 1,642,245 | 1,765,568 | ||||||||||||||||||||
Fixed charges | 245,314 | 203,414 | 427,668 | 466,711 | 364,642 | 317,246 | 320,595 | |||||||||||||||||||||
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Total earnings (b) | $ | 1,357,807 | 1,318,048 | 2,751,530 | 2,525,109 | 2,039,334 | 1,959,491 | 2,086,163 | ||||||||||||||||||||
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Ratio of earnings to fixed charges, including interest on deposits | x | 5.53 | | 6.48 | 6.43 | 5.41 | 5.59 | 6.18 | 6.51 | |||||||||||||||||||
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(a) The portion of rents shown as representative of the interest factor isone-third of total net operating lease expenses.
(b) Figures prior to 2015 have been restated as a result of an accounting policy election to account for investments in qualified affordable housing projects using the proportionate amortization method.