EXHIBIT 12.0
STATEMENT RE: RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, | ||||||||||||
(dollars in thousands) | 2017 | 2016 | 2015 | |||||||||
Including Interest Paidon Deposits: | ||||||||||||
Earnings (loss) before income taxes | $ | 668,215 | $ | 777,128 | $ | (132,013 | ) | |||||
Combined fixed charges: | ||||||||||||
Interest expense on deposits | 229,782 | 171,023 | 160,149 | |||||||||
Interest expense on borrowed funds | 222,454 | 216,464 | 349,604 | |||||||||
Appropriate portion (1/3) of rent expenses | 11,219 | 11,081 | 11,206 | |||||||||
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Total fixed charges | $ | 463,455 | $ | 398,568 | $ | 520,959 | ||||||
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Earnings before income taxes and fixed charges | $ | 1,131,670 | $ | 1,175,696 | $ | 388,946 | ||||||
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Ratio of earnings to fixed charges | 2.44 | x | 2.95 | x | 0.75 | x | ||||||
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Excluding Interest Paid on Deposits: | ||||||||||||
Earnings (loss) before income taxes | $ | 668,215 | $ | 777,128 | $ | (132,013 | ) | |||||
Combined fixed charges: | ||||||||||||
Interest expense on borrowed funds | 222,454 | 216,464 | 349,604 | |||||||||
Appropriate portion (1/3) of rent expenses | 11,219 | 11,081 | 11,206 | |||||||||
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Total fixed charges | $ | 233,673 | $ | 227,545 | $ | 360,810 | ||||||
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Earnings before income taxes and fixed charges | $ | 901,888 | $ | 1,004,673 | $ | 228,797 | ||||||
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Ratio of earnings to fixed charges | 3.86 | x | 4.42 | x | 0.63 | x | ||||||
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