Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

August 9, 2007

Documents

 

Exhibit 12.1
Ratio of Earnings to Fixed Charges
                                 
    (Unaudited)   (Unaudited)
    Three Months Ended   Six Months Ended
    June 30,   June 30,
(in thousands of dollars)   2007   2006   2007   2006
 
Earnings:
                                
 
Income before taxes
   $ 104,796     $ 157,110     $ 234,050     $ 302,369  
 
Add: Fixed charges, excluding interest on deposits
     93,788       89,495       179,312       165,014  
 
 
                                
Earnings available for fixed charges, excluding interest on deposits
     198,584       246,605       413,362       467,383  
Add: Interest on deposits
     198,108       173,032       394,831       321,346  
 
 
                                
Earnings available for fixed charges, including interest on deposits
   $ 396,692     $ 419,637     $ 808,193     $ 788,729  
 
 
                                
Fixed Charges:
                                
Interest expense, excluding interest on deposits
   $ 90,962     $ 86,676     $ 173,633     $ 159,469  
Interest factor in net rental expense
     2,826       2,819       5,679       5,545  
 
 
                                
Total fixed charges, excluding interest on deposits
     93,788       89,495       179,312       165,014  
Add: Interest on deposits
     198,108       173,032       394,831       321,346  
 
 
                                
Total fixed charges, including interest on deposits
   $ 291,896     $ 262,527     $ 574,143     $ 486,360  
 
 
                                
Ratio of Earnings to Fixed Charges
                                
Excluding interest on deposits
     2.12 x     2.76 x     2.31 x     2.83 x
Including interest on deposits
     1.36 x     1.60 x     1.41 x     1.62 x