WELLS FARGO FINANCIAL, INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Exhibit (12)
| Six | |||||||||||||||||||
| Months | |||||||||||||||||||
| Ended | |||||||||||||||||||
| June 30, | |||||||||||||||||||
| 2001 | Years Ended December 31, | ||||||||||||||||||
| (Thousands of Dollars) | |||||||||||||||||||
| 2000 | 1999 | 1998 | 1997 | 1996 | |||||||||||||||
| Net income | $ | 129,581 | $ | 241,054 | $ | 265,361 | $ | 238,604 | $ | 269,450 | $ | 276,331 | |||||||
| Add: | |||||||||||||||||||
| Fixed charges: | |||||||||||||||||||
| Interest including amortization of debt expense | 368,689 | 639,444 | 520,063 | 485,784 | 401,736 | 372,859 | |||||||||||||
| One-third of rentals* | 6,558 | 12,844 | 13,974 | 13,406 | 12,107 | 10,748 | |||||||||||||
| Total fixed charges | 375,247 | 652,288 | 534,037 | 499,190 | 413,843 | 383,607 | |||||||||||||
| Provision for income taxes | 77,397 | 138,834 | 149,190 | 121,668 | 144,082 | 148,096 | |||||||||||||
| Total net earnings, fixed charges and income taxes - “Earnings” | $ | 582,225 | $ | 1,032,176 | $ | 948,588 | $ | 859,462 | $ | 827,375 | $ | 808,034 | |||||||
| Ratio of earnings to fixed charges | 1.55 | 1.58 | 1.78 | 1.72 | 2.00 | 2.11 | |||||||||||||
*One-third of rentals is deemed representative of the interest factor.
