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Exhibit 12
ADVANTA CORP. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Three Months Ended | ||||||||
| ($ in thousands) | March 31, | |||||||
| 2008 | 2007 | |||||||
| Net income | $ | 18,362 | $ | 21,448 | ||||
| Income tax expense | 11,328 | 13,828 | ||||||
| Earnings before income taxes | 29,690 | 35,276 | ||||||
| Fixed charges: | ||||||||
| Interest on debt, deposits and other borrowings | 25,827 | 20,245 | ||||||
| Interest on subordinated debt payable to preferred securities trust | 2,317 | 2,317 | ||||||
| One-third of all rentals | 467 | 474 | ||||||
| Total fixed charges | 28,611 | 23,036 | ||||||
| Earnings before income taxes and fixed charges | $ | 58,301 | $ | 58,312 | ||||
Ratio of earnings to fixed charges(1) | 2.04 | x | 2.53 | x | ||||
| (1) | For purposes of computing these ratios, “earnings” represent income before income taxes plus fixed charges. “Fixed charges” consist of interest expense and one-third (the portion deemed representative of the interest factor) of rental expense on operating leases. Fixed charges do not include interest expense related to unrecognized tax benefits, which we classify as income tax expense. |