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?Positive | ||
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Legalese | ||
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H.S. freshman Avg
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EXHIBIT 99.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Three Months Ended |
| |||||
|
| 2007 |
| 2006 |
| ||
|
| (dollars in millions) |
| ||||
Earnings, including interest on deposits(1): |
|
|
|
|
| ||
Income from continuing operations before income taxes |
| $ | 1,240 |
| $ | 1,535 |
|
Fixed charges |
| 2,970 |
| 2,586 |
| ||
|
| $ | 4,210 |
| $ | 4,121 |
|
Fixed charges(1)(2): |
|
|
|
|
| ||
Interest expense |
| $ | 2,927 |
| $ | 2,540 |
|
Estimated interest component of net rental expense |
| 43 |
| 46 |
| ||
|
| $ | 2,970 |
| $ | 2,586 |
|
Ratio of earnings to fixed charges |
| 1.42 |
| 1.59 |
| ||
Earnings, excluding interest on deposits(1): |
|
|
|
|
| ||
Income from continuing operations before income taxes |
| $ | 1,240 |
| $ | 1,535 |
|
Fixed charges |
| 1,198 |
| 1,365 |
| ||
|
| $ | 2,438 |
| $ | 2,900 |
|
Fixed charges(1)(2): |
|
|
|
|
| ||
Interest expense |
| $ | 2,927 |
| $ | 2,540 |
|
Less: interest on deposits |
| (1,772 | ) | (1,221 | ) | ||
Estimated interest component of net rental expense |
| 43 |
| 46 |
| ||
|
| $ | 1,198 |
| $ | 1,365 |
|
Ratio of earnings to fixed charges |
| 2.03 |
| 2.12 |
|
(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.