| Year Ended December 31, | ||||||||||||||||||||
| (in thousands of dollars) | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||
Earnings: |
||||||||||||||||||||
Income before taxes |
$ | 22,643 | $ | 514,061 | $ | 543,574 | $ | 552,666 | $ | 523,987 | ||||||||||
Add: Fixed charges, excluding
interest on deposits |
431,320 | 345,253 | 243,239 | 191,648 | 179,902 | |||||||||||||||
Earnings available for fixed charges,
excluding interest on deposits |
453,963 | 859,314 | 786,813 | 744,314 | 703,889 | |||||||||||||||
Add: Interest on deposits |
1,026,388 | 717,167 | 446,919 | 257,099 | 288,271 | |||||||||||||||
Earnings available for fixed charges,
including interest on deposits |
$ | 1,480,351 | $ | 1,576,481 | $ | 1,233,732 | $ | 1,001,413 | $ | 992,160 | ||||||||||
Fixed Charges: |
||||||||||||||||||||
Interest expense, excluding
interest on deposits |
$ | 415,063 | $ | 334,175 | $ | 232,435 | $ | 178,842 | $ | 168,499 | ||||||||||
Interest factor in net rental expense |
16,257 | 11,078 | 10,804 | 12,806 | 11,404 | |||||||||||||||
Total fixed charges, excluding
interest on deposits |
431,320 | 345,253 | 243,239 | 191,648 | 179,903 | |||||||||||||||
Add: Interest on deposits |
1,026,388 | 717,167 | 446,919 | 257,099 | 288,271 | |||||||||||||||
Total fixed charges, including
interest on deposits |
$ | 1,457,708 | $ | 1,062,420 | $ | 690,158 | $ | 448,747 | $ | 468,174 | ||||||||||
Ratio of Earnings to Fixed Charges |
||||||||||||||||||||
Excluding interest on deposits |
1.05 x | 2.49 x | 3.23 x | 3.88 x | 3.91 x | |||||||||||||||
Including interest on deposits |
1.02 x | 1.48 x | 1.79 x | 2.23 x | 2.12 x | |||||||||||||||
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