EXHIBIT 12
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COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
THREE MONTHS ENDED SIX MONTHS ENDED
MARCH 31 MARCH 31
(dollars in thousands) 2003 2002 2003 2002
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Income before taxes $152,227 $159,993 $300,953 $318,019
Add fixed charges:
Interest expense-excluding interest on deposits 3,711 3,608 7,587 9,675
Interest expense-deposits 1,573 2,440 3,380 5,194
Interest factor on rent 3,942 4,639 6,557 9,933
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Total fixed charges 9,226 10,687 17,524 24,802
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Earnings before fixed charges and taxes on income $161,453 $170,680 $318,477 $342,821
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Ratio of earnings to fixed charges
-including interest on deposits 17.5 16.0 18.2 13.8
Ratio of earnings to fixed charges
-excluding interest on deposits 20.9 20.4 22.3 17.2
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Fixed charges for these purposes consist of all interest expense and one-third of rental expenses
(the approximate portion of rental expense representing interest).