EXHIBIT 12 HUNTINGTON BANCSHARES INCORPORATED QUARTERLY RATIOS OF EARNINGS TO FIXED CHARGES (Unaudited and Restated)
2003 2002 -------------- ------------------------------------------------------- (in thousands of dollars) FIRST FOURTH THIRD SECOND FIRST - -------------------------------------------------------------------------- ------------------------------------------------------- EARNINGS: Income before taxes $ 122,360 $ 90,489 $ 116,067 $ 95,353 $ 220,796 Add: Fixed charges, excluding interest on deposits 41,478 44,623 41,144 39,902 44,119 ---------- ---------- ---------- --------- ---------- Earnings available for fixed charges, excluding interest on deposits 163,838 135,112 157,211 135,255 264,915 Add: Interest on deposits 79,710 88,404 94,647 93,759 108,830 ---------- ---------- ---------- --------- ---------- Earnings available for fixed charges, including interest on deposits $ 243,548 $ 223,516 $ 251,858 $ 229,014 $ 373,745 ========== ========== ========== ========= ========== FIXED CHARGES: Interest expense, excluding interest on deposits $ 38,545 $ 41,757 $ 38,265 $ 37,063 $ 40,803 Interest factor in net rental expense 2,933 2,866 2,879 2,839 3,316 ---------- ---------- ---------- --------- ---------- Total fixed charges, excluding interest on deposits 41,478 44,623 41,144 39,902 44,119 Add: Interest on deposits 79,710 88,404 94,647 93,759 108,830 ---------- ---------- ---------- --------- ---------- Total fixed charges, including interest on deposits $ 121,188 $ 133,027 $ 135,791 $ 133,661 $ 152,949 ========== ========== ========== ========= ========== RATIO OF EARNINGS TO FIXED CHARGES Excluding interest on deposits 3.95 x 3.03 x 3.82 x 3.39 x 6.00 x Including interest on deposits 2.01 x 1.68 x 1.85 x 1.71 x 2.44 x