EXHIBIT 12
BANK UNITED CORP.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)
FOR THE
SIX MONTHS
ENDED FOR THE YEAR ENDED SEPTEMBER 30,
MARCH 31, ----------------------------------------------------------
1996 1995 1994 1993 1992 1991
----------- ---------- ---------- ---------- ---------- ----------
EARNINGS
Income before income taxes, minority
interest, and extraordinary loss... $ 61,387 $ 90,111 $ 86,081 $ 122,303 $ 56,805 $ 18,706
Fixed charges........................ 312,232 560,989 328,940 308,181 355,860 335,836
----------- ---------- ---------- ---------- ---------- ----------
Income before income taxes, minority
interest, extraordinary loss, and
fixed charges...................... $ 373,619 $ 651,100 $ 415,021 $ 430,484 $ 412,665 $ 354,542
=========== ========== ========== ========== ========== ==========
FIXED CHARGES
Interest expense..................... $ 309,289 $ 552,760 $ 320,924 $ 300,831 $ 348,291 $ 330,659
One-third net rental expense......... 2,455 7,253 7,039 6,656 7,007 4,569
Amortization of debt expense......... 488 976 977 694 562 608
----------- ---------- ---------- ---------- ---------- ----------
Total fixed charges.................. $ 312,232 $ 560,989 $ 328,940 $ 308,181 $ 355,860 $ 335,836
=========== ========== ========== ========== ========== ==========
Earnings to fixed charges ratio...... 1.20 1.16 1.26 1.40 1.16 1.06
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
AND BANK'S PREFERRED STOCK DIVIDENDS
(DOLLARS IN THOUSANDS)
FOR THE
SIX MONTHS
ENDED FOR THE YEAR ENDED SEPTEMBER 30,
MARCH 31, ----------------------------------------------------------
1996 1995 1994 1993 1992 1991
----------- ---------- ---------- ---------- ---------- ----------
EARNINGS
Income before income taxes, minority
interest, and extraordinary loss... $ 61,387 $ 90,111 $ 86,081 $ 122,303 $ 56,805 $ 18,706
Fixed charges........................ 312,232 560,989 328,940 308,181 355,860 335,836
----------- ---------- ---------- ---------- ---------- ----------
Income before income taxes, minority
interest, extraordinary loss, and
fixed charges...................... $ 373,619 $ 651,100 $ 415,021 $ 430,484 $ 412,665 $ 354,542
=========== ========== ========== ========== ========== ==========
COMBINED FIXED CHARGES AND BANK'S
PREFERRED STOCK DIVIDENDS
Interest expense..................... $ 309,289 $ 552,760 $ 320,924 $ 300,831 $ 348,291 $ 330,659
One-third net rental expense......... 2,455 7,253 7,039 6,656 7,007 4,569
Amortization of debt expense......... 488 976 977 694 562 608
----------- ---------- ---------- ---------- ---------- ----------
Total fixed charges.................. 312,232 560,989 328,940 308,181 355,860 335,836
Bank's Preferred Stock dividends,
pre-tax basis
Series A........................ 7,024 14,011 14,006 10,581 -- --
Series B........................ 7,793 3,152 -- -- -- --
----------- ---------- ---------- ---------- ---------- ----------
Combined fixed charges and Bank's
Preferred Stock dividends.......... $ 327,049 $ 578,152 $ 342,946 $ 318,762 $ 355,860 $ 335,836
=========== ========== ========== ========== ========== ==========
Earnings to combined fixed charges
and Bank's Preferred Stock
dividends ratio.................... 1.14 1.13 1.21 1.35 1.16 1.06