HSBC USA (HUSI+G) 10-Q2017 Q2 Quarterly report

Filed: 31 Jul 17, 12:00am

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New words: Avenue, Beland, Benoit, boycott, Brazilian, Canada, Caron, CCC, clarity, conceivably, database, demised, detection, DiFilippo, discovery, dozen, Fairfax, ISDAFix, lifted, Nova, Ontario, ORMF, pendency, pharmaceutical, proceeding, province, proximate, Quebec, refreshed, renamed, reorganization, role, Scotia, sparked, squeeze, Tera, TeraExchange, unwound, zone

Removed: backtesting, conforming, foreclosed, Giron, granting, increasing, laundering, liquidation, matured, network, pronounced, Ramiro, scheduled, Secrecy, servicer, Shanghai, shift, trend

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EXHIBIT 12

HSBC USA INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES



	Six Months Ended June 30,
	2017		2016
	(dollars are in millions)
Ratios excluding interest on deposits:
Income from continuing operations	$	500	$	133
Income tax expense	260		74
Fixed charges:
Interest on:
Short-term borrowings	55		39
Long-term debt	493		400
Others	11		7
One third of rents, net of income from subleases	16		13
Total fixed charges, excluding interest on deposits	575		459
Earnings from continuing operations before taxes and fixed charges, excluding interest on deposits	$	1,335	$	666
Ratio of earnings to fixed charges, excluding interest on deposits	2.32		1.45

Ratios including interest on deposits:
Total fixed charges, excluding interest on deposits	$	575	$	459
Add: Interest on deposits	319		222
Total fixed charges, including interest on deposits	894		681
Earnings from continuing operations before taxes and fixed charges, excluding interest on deposits	1,335		666
Add: Interest on deposits	319		222
Earnings from continuing operations before taxes and fixed charges, including interest on deposits	$	1,654	$	888
Ratio of earnings to fixed charges, including interest on deposits	1.85		1.30

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