EXHIBIT 12A
NEWCOURT CREDIT GROUP INC.
COMPUTATION OF RATIO OF EARNINGS TO
FIXED CHARGES
(DOLLARS IN U.S. THOUSANDS)
PERIOD ENDED DECEMBER 31,
June 30, --------------------------------------------------------
1999 1998 1997 1996 1995 1994
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Earnings from continuing operations:
Income before income taxes and
extraordinary loss $162,885 $304,170 $ 10,356 $ 41,332 $22,281 $14,575
Deduct undistributed earnings on
equity investments, net of losses -- -- -- -- -- --
Add fixed charges included in
income before income taxes $416,636 $641,319 $ 95,654 $ 68,590 $42,318 $26,273
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Total earnings from continuing
operations, as adjusted $579,521 $945,489 $106,011 $109,922 $64,599 $40,848
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Total fixed charges* $416,636 $641,319 $ 95,654 $ 68,590 $42,318 $26,273
Ratio of earnings to fixed charges 1.39 1.47 1.11 1.60 1.53 1.55
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* Fixed charges include interest on indebtedness and the portion of rentals
representative of the interest factor.