1
Exhibit 12
ADVANTA Corp.
and Subsidiaries
Statements setting forth details of computation of ratio
of earnings to fixed charges
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
For The Years Ended December 31,
------------------------------------------------
1997 1996 1995 1994 1993
---- ---- ---- ---- ----
(Unaudited)
Net earnings $ 71,625 $175,657 $136,677 $106,063 $ 77,920
Federal and state income taxes 24,905 89,104 75,226 59,144 45,335
-------- -------- -------- -------- --------
Earnings before income taxes 96,530 264,761 211,903 165,207 123,255
-------- -------- -------- -------- --------
Fixed charges:
Interest 324,558 269,700 166,032 94,758 79,303
One-third of all rentals 3,492 2,834 1,641 1,809 1,591
Preferred stock
dividend of subsidiary
trust 8,990 350 0 0 0
-------- -------- -------- -------- --------
Total fixed charges 337,040 272,884 167,673 96,567 80,894
-------- -------- -------- -------- --------
Earnings before income taxes
and fixed charges $433,570 $537,645 $379,576 $261,774 $204,149
-------- -------- -------- -------- --------
Ratio of earnings to fixed
charges(1) 1.29x 1.97x 2.26x 2.71x 2.52x
(1) For purposes of computing these ratios, "earnings" represent income before
income taxes plus fixed charges, and "fixed charges" consist of interest
expense, one-third (the proportion deemed representative of the interest
factor) of rental expense on operating leases, and preferred stock dividends
of subsidiary trust.