1
EXHIBIT 12.0
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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1997 1996 1995 1994 1993
Income before income taxes 284,026 256,027 206,130 175,177 132,140
Fixed charges:
Interest expense 707,348 591,540 521,624 351,633 280,008
Estimated interest component
of net rental payments 7,779 7,065 6,012 5,568 4,827
Total fixed charges including
interest on deposits 715,127 598,605 527,636 357,201 284,835
Less: Interest on deposits 366,528 350,221 329,783 247,726 219,447
Total fixed charges excluding
interest on deposits 348,599 248,384 197,853 109,475 65,388
Income before income taxes and
fixed charges (including interest
on deposits) $999,153 $854,632 $733,766 $532,378 $416,975
Income before income taxes and
fixed charges (excluding interest
on deposits) $632,625 $504,411 $403,983 $284,652 $197,528
Preferred stock dividends 8,350 8,350 8,350 $4,630 $770
Ratio of earnings to fixed charges
Including Interest on Deposits 1.4 1.4 1.4 1.5 1.5
Excluding Interest on Deposits 1.8 2.0 2.0 2.6 3.0
Ratio of earnings to fixed charges & Preferred Stock Dividends
Including Interest on Deposits 1.4 1.4 1.4 1.5 1.5
Excluding Interest on Deposits 1.8 2.0 2.0 2.5 3.0