Exhibit 12.1
Ratio of Earnings to Fixed Charges
(Unaudited) | ||||||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||||||
June 30, | Twelve Months Ended December 31, | |||||||||||||||||||||||||||
(dollar amounts in thousands) | 2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | 407,439 | $ | 356,089 | $ | 707,234 | $ | 352,311 | $ | (3,678,183 | ) | $ | (296,008 | ) | $ | 22,643 | ||||||||||||
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Add: Fixed charges, excluding interest on deposits | 44,091 | 50,109 | 97,035 | 102,969 | 155,269 | 351,672 | 431,320 | |||||||||||||||||||||
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Earnings available for fixed charges, excluding interest on deposits | 451,530 | 406,198 | 804,269 | 455,280 | (3,522,914 | ) | 55,664 | 453,963 | ||||||||||||||||||||
Add: Interest on deposits | 85,570 | 144,100 | 260,051 | 439,050 | 674,101 | 931,679 | 1,026,388 | |||||||||||||||||||||
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Earnings available for fixed charges, including interest on deposits | 537,100 | 550,298 | 1,064,320 | 894,330 | (2,848,813 | ) | 987,343 | 1,480,351 | ||||||||||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense, excluding interest on deposits | 35,740 | 42,247 | 81,004 | 87,537 | 139,754 | 334,952 | 415,063 | |||||||||||||||||||||
Interest factor in net rental expense | 8,351 | 7,862 | 16,031 | 15,432 | 15,515 | 16,720 | 16,257 | |||||||||||||||||||||
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Total fixed charges, excluding interest on deposits | 44,091 | 50,109 | 97,035 | 102,969 | 155,269 | 351,672 | 431,320 | |||||||||||||||||||||
Add: Interest on deposits | 85,570 | 144,100 | 260,051 | 439,050 | 674,101 | 931,679 | 1,026,388 | |||||||||||||||||||||
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Total fixed charges, including interest on deposits | $ | 129,661 | $ | 194,209 | $ | 357,086 | $ | 542,019 | $ | 829,370 | $ | 1,283,351 | $ | 1,457,708 | ||||||||||||||
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Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||||||
Excluding interest on deposits | 10.24 | x | 8.11 | x | 8.29 | x | 4.42 | x | (22.69 | )x | 0.16 | x | 1.05 | x | ||||||||||||||
Including interest on deposits | 4.14 | x | 2.83 | x | 2.98 | x | 1.65 | x | (3.43 | )x | 0.77 | x | 1.02 | x |