EXHIBIT 12
EXHIBIT 12. STATEMENT RE: COMPUTATION OF RATIOS
BANCWEST CORPORATION AND SUBSIDIARIES
COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
YEAR ENDED DECEMBER 31,
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(dollars in thousands) 2001 2000 1999 1998 1997
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Income before income taxes $426,116 $368,621 $296,129 $144,901 $138,185
Fixed charges (1):
Interest expense 507,135 562,922 446,877 315,822 281,232
Rental expense 15,531 15,290 15,017 13,659 12,502
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522,666 578,212 461,894 329,481 293,734
Less interest on deposits 393,263 458,204 368,621 253,860 220,116
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Net fixed charges 129,403 120,008 93,273 75,621 73,618
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Earnings, excluding interest on deposits $555,519 $488,629 $389,402 $220,522 $211,803
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Earnings, including interest on deposits $948,782 $946,833 $758,023 $474,382 $431,919
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Ratio of earnings to fixed charges:
Excluding interest on deposits 4.29x 4.07x 4.17x 2.92x 2.88x
Including interest on deposits 1.82x 1.64x 1.64x 1.44x 1.47x
(1) For purposes of computing the consolidated ratios of earnings to fixed
charges, earnings represent income before income taxes and fixed charges. Fixed
charges, excluding interest on deposits, include interest (other than on
deposits), whether expensed or capitalized, and that portion of rental expense
(generally one third) deemed representative of the interest factor. Fixed
charges, including interest on deposits, consist of the foregoing items plus
interest on deposits.