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:
Actual.......................... 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:
Actual.......................... 1.14 1.13 1.21 1.35 1.16 1.06