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WASHINGTON MUTUAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2007 | 2006 | 2007 | 2006 | ||||||||||
| | (dollars in millions) | | |||||||||||
Earnings, including interest on deposits(1): | ||||||||||||||
Income from continuing operations before income taxes | $ | 182 | $ | 1,133 | $ | 2,663 | $ | 3,815 | ||||||
Fixed charges | 2,883 | 3,203 | 8,608 | 8,712 | ||||||||||
$ | 3,065 | $ | 4,336 | $ | 11,271 | $ | 12,527 | |||||||
Fixed charges(1)(2): | ||||||||||||||
Interest expense | $ | 2,842 | $ | 3,158 | $ | 8,482 | $ | 8,574 | ||||||
Estimated interest component of net rental expense | 41 | 45 | 126 | 138 | ||||||||||
$ | 2,883 | $ | 3,203 | $ | 8,608 | $ | 8,712 | |||||||
Ratio of earnings to fixed charges | 1.06 | 1.35 | 1.31 | 1.44 | ||||||||||
Earnings, excluding interest on deposits(1): | ||||||||||||||
Income from continuing operations before income taxes | $ | 182 | $ | 1,133 | $ | 2,663 | $ | 3,815 | ||||||
Fixed charges | 1,233 | 1,464 | 3,463 | 4,292 | ||||||||||
$ | 1,415 | $ | 2,597 | $ | 6,126 | $ | 8,107 | |||||||
Fixed charges(1)(2): | ||||||||||||||
Interest expense | $ | 2,842 | $ | 3,158 | $ | 8,482 | $ | 8,574 | ||||||
Less: interest on deposits | (1,650 | ) | (1,739 | ) | (5,145 | ) | (4,420 | ) | ||||||
Estimated interest component of net rental expense | 41 | 45 | 126 | 138 | ||||||||||
$ | 1,233 | $ | 1,464 | $ | 3,463 | $ | 4,292 | |||||||
Ratio of earnings to fixed charges | 1.15 | 1.77 | 1.77 | 1.89 | ||||||||||
- (1)
- As defined in Item 503(d) of Regulation S-K.
- (2)
- Fixed charges exclude interest expense on uncertain tax positions which is included as a component of income taxes in the Consolidated Statements of Income.