EXHIBIT 12.0
STATEMENT RE: RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, | ||||||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | |||||||||
Including Interest Paid on Deposits: | ||||||||||||
Earnings before income taxes | $ | 773,066 | $ | 747,126 | $ | 780,909 | ||||||
Combined fixed charges: | ||||||||||||
Interest expense on deposits | 149,746 | 141,639 | 144,166 | |||||||||
Interest expense on borrowed funds | 392,968 | 399,843 | 486,914 | |||||||||
Appropriate portion (1/3) of rent expenses | 12,000 | 11,676 | 11,282 | |||||||||
|
|
|
|
|
| |||||||
Total fixed charges | $ | 554,714 | $ | 553,158 | $ | 642,362 | ||||||
|
|
|
|
|
| |||||||
Earnings before income taxes and fixed charges | $ | 1,327,780 | $ | 1,300,284 | $ | 1,423,271 | ||||||
|
|
|
|
|
| |||||||
Ratio of earnings to fixed charges | 2.39 | x | 2.35 | x | 2.22 | x | ||||||
|
|
|
|
|
| |||||||
Excluding Interest Paid on Deposits: | ||||||||||||
Earnings before income taxes | $ | 773,066 | $ | 747,126 | $ | 780,909 | ||||||
Combined fixed charges: | ||||||||||||
Interest expense on borrowed funds | 392,968 | 399,843 | 486,914 | |||||||||
Appropriate portion (1/3) of rent expenses | 12,000 | 11,676 | 11,282 | |||||||||
|
|
|
|
|
| |||||||
Total fixed charges | $ | 404,968 | $ | 411,519 | $ | 498,196 | ||||||
|
|
|
|
|
| |||||||
Earnings before income taxes and fixed charges | $ | 1,178,034 | $ | 1,158,645 | $ | 1,279,105 | ||||||
|
|
|
|
|
| |||||||
Ratio of earnings to fixed charges | 2.91 | x | 2.82 | x | 2.57 | x | ||||||
|
|
|
|
|
|