. . . EXHIBIT 12 RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED AND RESTATED)
TWELVE MONTHS ENDED DECEMBER 31, ------------------------------------------------------------------- (in thousands of dollars) 2002 2001 2000 1999 1998 - ------------------------------------------ ----------- ----------- ----------- ----------- ----------- EARNINGS: Income before taxes $ 521,217 $ 95,214 $ 448,454 $ 602,325 $ 406,225 - ------------------------------------------ ----------- ----------- ----------- ----------- ----------- Add: Fixed charges, excluding interest on deposits 169,788 299,872 398,214 356,563 327,950 - ------------------------------------------ ----------- ----------- ----------- ----------- ----------- Earnings available for fixed charges, excluding interest on deposits 691,005 395,086 846,668 958,888 734,175 Add: Interest on deposits 385,733 654,056 782,076 639,605 672,433 - ------------------------------------------ ----------- ----------- ----------- ----------- ----------- Earnings available for fixed charges, including interest on deposits $ 1,076,738 $ 1,049,142 $ 1,628,744 $ 1,598,493 $ 1,406,608 - ------------------------------------------ =========== =========== =========== =========== =========== FIXED CHARGES: Interest expense, excluding interest on deposits $ 157,888 $ 285,445 $ 383,997 $ 344,635 $ 317,713 Interest factor in net rental expense 11,900 14,427 14,217 11,928 10,237 - ------------------------------------------ ----------- ----------- ----------- ----------- ----------- Total fixed charges, excluding interest on deposits 169,788 299,872 398,214 356,563 327,950 Add: Interest on deposits 385,733 654,056 782,076 639,605 672,433 - ------------------------------------------ ----------- ----------- ----------- ----------- ----------- Total fixed charges, including interest on deposits $ 555,521 $ 953,928 $ 1,180,290 $ 996,168 $ 1,000,383 - ------------------------------------------ =========== =========== =========== =========== =========== Ratio of Earnings to Fixed Charges Excluding interest on deposits 4.07 X 1.32 X 2.13 X 2.69 X 2.24 X Including interest on deposits 1.94 X 1.10 X 1.38 X 1.60 X 1.41 X