EXHIBIT 12(a)
CHEMICAL BANKING CORPORATION and Subsidiaries
Computation of ratio of earnings to fixed charges
(in millions, except ratios)
Six Months Ended
June 30, 1995
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EXCLUDING INTEREST ON DEPOSITS
Income before Income Taxes and Effect of
Accounting Change $ 1,415
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Fixed charges:
Interest expense 1,333
One third of rents, net of income from subleases (a) 46
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Total fixed charges 1,379
Less: Equity in undistributed income of affiliates (84)
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Earnings before taxes, fixed charges and effect of
accounting change, excluding capitalized interest $ 2,710
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Fixed charges, as above $ 1,379
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Ratio of earnings to fixed charges 1.97
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INCLUDING INTEREST ON DEPOSITS
Fixed charges, as above $ 1,379
Add: Interest on deposits 1,782
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Total fixed charges and interest on deposits $ 3,161
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Earnings before taxes, fixed charges and effect of accounting
change, excluding capitalized interest, as above $ 2,710
Add: Interest on deposits 1,782
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Total earnings before taxes, fixed charges, effect of accounting
change and interest on deposits $ 4,492
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Ratio of earnings to fixed charges 1.42
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(a) The proportion deemed representative of the interest factor.
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