EXHIBIT 12
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COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
THREE MONTHS ENDED
DECEMBER 31,
(in thousands) 2003 2002
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Income before taxes and cumulative effect of an accounting change $235,940 $148,726
Add fixed charges:
Interest expense-excluding interest on deposits 7,676 3,876
Interest expense-deposits 1,142 1,807
Interest factor on rent /1 3,371 5,402
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Total fixed charges 12,189 11,085
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Earnings before fixed charges and taxes on income $248,129 $159,811
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Ratio of earnings to fixed charges - including interest on deposits 20.4 14.4
Ratio of earnings to fixed charges - excluding interest on deposits 22.4 17.0
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/1 Interest factor on rent represents one-third of rental expense (the approximate portion of rental
expense representing interest).