WELLS FARGO FINANCIAL, INC.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
Exhibit (12)
|
| Nine Months Ended September 30, 2001 |
| Years Ended December 31, |
| ||||||||||||||
|
|
|
| (Thousands of Dollars) |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
| 2000 |
| 1999 |
| 1998 |
| 1997 |
| 1996 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Net income |
| $ | 197,149 |
| $ | 241,054 |
| $ | 265,361 |
| $ | 238,604 |
| $ | 269,450 |
| $ | 276,331 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest including amortization of debt expense |
| 539,761 |
| 639,444 |
| 520,063 |
| 485,784 |
| 401,736 |
| 372,859 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
One-third of rentals* |
| 9,950 |
| 12,844 |
| 13,974 |
| 13,406 |
| 12,107 |
| 10,748 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Total fixed charges |
| 549,711 |
| 652,288 |
| 534,037 |
| 499,190 |
| 413,843 |
| 383,607 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Provision for income taxes |
| 117,301 |
| 138,834 |
| 149,190 |
| 121,668 |
| 144,082 |
| 148,096 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Total net earnings, fixed charges and income taxes - “Earnings” |
| $ | 864,161 |
| $ | 1,032,176 |
| $ | 948,588 |
| $ | 859,462 |
| $ | 827,375 |
| $ | 808,034 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Ratio of earnings to fixed charges |
| 1.57 |
| 1.58 |
| 1.78 |
| 1.72 |
| 2.00 |
| 2.11 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
* One-third of rentals is deemed representative of the interest factor.
