| Twelve Months Ended December 31, | ||||||||||||||||||||
| (in thousands of dollars) | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Earnings: |
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(Loss) income before income taxes |
$ | (3,678,183 | ) | $ | (296,008 | ) | $ | 22,643 | $ | 514,061 | $ | 543,574 | ||||||||
Add: Fixed charges, excluding interest
on deposits and preferred stock dividends |
155,269 | 351,672 | 431,320 | 345,253 | 243,239 | |||||||||||||||
Earnings available for fixed charges,
excluding interest on deposits |
(3,522,914 | ) | 55,664 | 453,963 | 859,314 | 786,813 | ||||||||||||||
Add: Interest on deposits |
674,101 | 931,679 | 1,026,388 | 717,167 | 446,919 | |||||||||||||||
Earnings available for fixed charges,
including interest on deposits |
(2,848,813 | ) | 987,343 | 1,480,351 | 1,576,481 | 1,233,732 | ||||||||||||||
Fixed Charges: |
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Interest expense, excluding
interest on deposits |
139,754 | 334,952 | 415,063 | 334,175 | 232,435 | |||||||||||||||
Interest factor in net rental expense |
15,515 | 16,720 | 16,257 | 11,078 | 10,804 | |||||||||||||||
Preferred stock dividends |
174,756 | 46,400 | — | — | — | |||||||||||||||
Total fixed charges, excluding
interest on deposits |
330,025 | 398,072 | 431,320 | 345,253 | 243,239 | |||||||||||||||
Add: Interest on deposits |
674,101 | 931,679 | 1,026,388 | 717,167 | 446,919 | |||||||||||||||
Total fixed charges, including
interest on deposits |
$ | 1,004,126 | $ | 1,329,751 | $ | 1,457,708 | $ | 1,062,420 | $ | 690,158 | ||||||||||
Ratio
of Earnings to Fixed Charges and Preferred Stock Dividends |
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Excluding interest on deposits |
(10.67 | ) x | 0.14 | x | 1.05 | x | 2.49 | x | 3.23 | x | ||||||||||
Including interest on deposits |
(2.84 | ) x | 0.74 | x | 1.02 | x | 1.48 | x | 1.79 | x | ||||||||||