Ratio of Earnings to Fixed Charges and Preferred Stock Dividends | Twelve Months Ended December 31, | |||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
(dollar amounts in millions) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Income before income taxes | $ | 1,394 | $ | 920 | $ | 914 | $ | 853 | $ | 869 | ||||||||||
Add: Fixed charges, excluding interest on deposits and preferred stock dividends | 275 | 181 | 100 | 71 | 57 | |||||||||||||||
Earnings available for fixed charges, excluding interest on deposits | 1,669 | 1,101 | 1,014 | 924 | 926 | |||||||||||||||
Add: Interest on deposits | 180 | 102 | 82 | 86 | 116 | |||||||||||||||
Earnings available for fixed charges, including interest on deposits | $ | 1,849 | $ | 1,203 | $ | 1,096 | $ | 1,010 | $ | 1,042 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense, excluding interest on deposits | $ | 251 | $ | 161 | $ | 82 | $ | 53 | $ | 40 | ||||||||||
Interest factor in net rental expense | 24 | 20 | 18 | 18 | 17 | |||||||||||||||
Preferred stock dividends | 76 | 65 | 32 | 32 | 32 | |||||||||||||||
Total fixed charges, excluding interest on deposits | 351 | 246 | 132 | 103 | 89 | |||||||||||||||
Add: Interest on deposits | 180 | 102 | 82 | 86 | 116 | |||||||||||||||
Total fixed charges, including interest on deposits | $ | 531 | $ | 348 | $ | 214 | $ | 189 | $ | 205 | ||||||||||
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends | ||||||||||||||||||||
Excluding interest on deposits | 4.75 | X | 4.47 | X | 7.71 | X | 9.01 | X | 10.41 | X | ||||||||||
Including interest on deposits | 3.48 | X | 3.45 | X | 5.13 | X | 5.34 | X | 5.08 | X | ||||||||||