Exhibit 12.2
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
(Unaudited) | ||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||
March 31, | Twelve Months Ended December 31, | |||||||||||||||||||||||||||
(dollar amounts in thousands) | 2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | 205,447 | $ | 161,191 | $ | 707,234 | $ | 352,311 | $ | (3,678,183 | ) | $ | (296,008 | ) | $ | 22,643 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Add: Fixed charges, excluding interest on deposits and preferred stock dividends | 23,091 | 25,652 | 97,035 | 102,969 | 155,269 | 351,672 | 431,320 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Earnings available for fixed charges, excluding interest on deposits | 228,538 | 186,843 | 804,269 | 455,280 | (3,522,914 | ) | 55,664 | 453,963 | ||||||||||||||||||||
Add: Interest on deposits | 43,780 | 75,796 | 260,051 | 439,050 | 674,101 | 931,679 | 1,026,388 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Earnings available for fixed charges, including interest on deposits | 272,318 | 262,639 | 1,064,320 | 894,330 | (2,848,813 | ) | 987,343 | 1,480,351 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense, excluding interest on deposits | 18,948 | 21,751 | 81,004 | 87,537 | 139,754 | 334,952 | 415,063 | |||||||||||||||||||||
Interest factor in net rental expense | 4,143 | 3,901 | 16,031 | 15,432 | 15,515 | 16,720 | 16,257 | |||||||||||||||||||||
Preferred stock dividends | 8,049 | 7,703 | 30,813 | 172,032 | 174,756 | 46,400 | — | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total fixed charges, excluding interest on deposits | 31,140 | 33,355 | 127,848 | 275,001 | 330,025 | 398,072 | 431,320 | |||||||||||||||||||||
Add: Interest on deposits | 43,780 | 75,796 | 260,051 | 439,050 | 674,101 | 931,679 | 1,026,388 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total fixed charges, including interest on deposits | $ | 74,920 | $ | 109,151 | $ | 387,899 | $ | 714,051 | $ | 1,004,126 | $ | 1,329,751 | $ | 1,457,708 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
| |||||||||||||||||||||||||||
Excluding interest on deposits | 7.34x | 5.60x | 6.29x | 1.66x | (10.67 | )x | 0.14x | 1.05x | ||||||||||||||||||||
Including interest on deposits | 3.63x | 2.41x | 2.74x | 1.25x | (2.84 | )x | 0.74x | 1.02x |