EXHIBIT 99.1
WASHINGTON MUTUAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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| Three Months Ended |
| Six Months Ended |
| ||||||||
|
| 2007 |
| 2006 |
| 2007 |
| 2006 |
| ||||
|
| (dollars in millions) |
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Earnings, including interest on deposits(1): |
|
|
|
|
|
|
|
|
| ||||
Income from continuing operations before income taxes |
| $ | 1,240 |
| $ | 1,148 |
| $ | 2,479 |
| $ | 2,682 |
|
Fixed charges |
| 2,756 |
| 2,922 |
| 5,726 |
| 5,509 |
| ||||
|
| $ | 3,996 |
| $ | 4,070 |
| $ | 8,205 |
| $ | 8,191 |
|
Fixed charges(1)(2): |
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|
|
|
|
|
|
|
| ||||
Interest expense |
| $ | 2,714 |
| $ | 2,875 |
| $ | 5,641 |
| $ | 5,416 |
|
Estimated interest component of net rental expense |
| 42 |
| 47 |
| 85 |
| 93 |
| ||||
|
| $ | 2,756 |
| $ | 2,922 |
| $ | 5,726 |
| $ | 5,509 |
|
Ratio of earnings to fixed charges |
| 1.45 |
| 1.39 |
| 1.43 |
| 1.49 |
| ||||
Earnings, excluding interest on deposits(1): |
|
|
|
|
|
|
|
|
| ||||
Income from continuing operations before income taxes |
| $ | 1,240 |
| $ | 1,148 |
| $ | 2,479 |
| $ | 2,682 |
|
Fixed charges |
| 1,033 |
| 1,461 |
| 2,231 |
| 2,827 |
| ||||
|
| $ | 2,273 |
| $ | 2,609 |
| $ | 4,710 |
| $ | 5,509 |
|
Fixed charges(1)(2): |
|
|
|
|
|
|
|
|
| ||||
Interest expense |
| $ | 2,714 |
| $ | 2,875 |
| $ | 5,641 |
| $ | 5,416 |
|
Less: interest on deposits |
| (1,723 | ) | (1,461 | ) | (3,495 | ) | (2,682 | ) | ||||
Estimated interest component of net rental expense |
| 42 |
| 47 |
| 85 |
| 93 |
| ||||
|
| $ | 1,033 |
| $ | 1,461 |
| $ | 2,231 |
| $ | 2,827 |
|
Ratio of earnings to fixed charges |
| 2.20 |
| 1.79 |
| 2.11 |
| 1.95 |
|
(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.