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EXHIBIT 12.1
POPULAR, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(Dollars in thousands)
Year Ended December 31,
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1999 1998 1997 1996 1995
Income before income taxes 340,224 306,691 284,026 256,027 206,130
Fixed charges:
Interest expense 897,932 778,692 707,348 591,540 521,624
Estimated interest component
of net rental payments 10,970 8,817 7,779 7,065 6,012
Total fixed charges including
interest on deposits 908,902 787,509 715,127 598,605 527,636
Less: Interest on deposits 452,215 411,492 366,528 350,221 329,783
Total fixed charges excluding
interest on deposits 456,687 376,017 348,599 248,384 197,853
Income before income taxes and
fixed charges (including interest
on deposits) $1,249,126 $1,094,200 $999,153 $854,632 $733,766
Income before income taxes and
fixed charges (excluding interest
on deposits) $ 796,911 $ 682,708 $632,625 $504,411 $403,983
Preferred stock dividends 8,350 8,350 8,350 8,350 8,350
Ratio of earnings to fixed charges
Including Interest on Deposits 1.4 1.4 1.4 1.4 1.4
Excluding Interest on Deposits 1.7 1.8 1.8 2.0 2.0
Ratio of earnings to fixed charges & Preferred Stock Dividends
Including Interest on Deposits 1.4 1.4 1.4 1.4 1.4
Excluding Interest on Deposits 1.7 1.8 1.8 2.0 2.0