Exhibit 12.1
Ratio of Earnings to Fixed Charges
| (Unaudited) | ||||||||||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||||||||||
| March 31, | Twelve Months Ended December 31, | |||||||||||||||||||||||||||
| (dollar amounts in thousands) |
2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||||
| Earnings: |
||||||||||||||||||||||||||||
| Income (loss) before income taxes |
$ | 205,447 | $ | 161,191 | $ | 707,234 | $ | 352,311 | $ | (3,678,183) | $ | (296,008) | $ | 22,643 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Add: Fixed charges, excluding interest on deposits |
23,091 | 25,652 | 97,035 | 102,969 | 155,269 | 351,672 | 431,320 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Earnings available for fixed charges, excluding interest on deposits |
228,538 | 186,843 | 804,269 | 455,280 | (3,522,914) | 55,664 | 453,963 | |||||||||||||||||||||
| Add: Interest on deposits |
43,780 | 75,796 | 260,051 | 439,050 | 674,101 | 931,679 | 1,026,388 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Earnings available for fixed charges, including interest on deposits |
272,318 | 262,639 | 1,064,320 | 894,330 | (2,848,813) | 987,343 | 1,480,351 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Fixed Charges: |
||||||||||||||||||||||||||||
| Interest expense, excluding interest on deposits |
18,948 | 21,751 | 81,004 | 87,537 | 139,754 | 334,952 | 415,063 | |||||||||||||||||||||
| Interest factor in net rental expense |
4,143 | 3,901 | 16,031 | 15,432 | 15,515 | 16,720 | 16,257 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total fixed charges, excluding interest on deposits |
23,091 | 25,652 | 97,035 | 102,969 | 155,269 | 351,672 | 431,320 | |||||||||||||||||||||
| Add: Interest on deposits |
43,780 | 75,796 | 260,051 | 439,050 | 674,101 | 931,679 | 1,026,388 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total fixed charges, including interest on deposits |
$ | 66,871 | $ | 101,448 | $ | 357,086 | $ | 542,019 | $ | 829,370 | $ | 1,283,351 | $ | 1,457,708 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Ratio of Earnings to Fixed Charges |
||||||||||||||||||||||||||||
| Excluding interest on deposits |
9.90 | x | 7.28 | x | 8.29 | x | 4.42 | x | (22.69 | )x | 0.16 | x | 1.05 | x | ||||||||||||||
| Including interest on deposits |
4.07 | x | 2.59 | x | 2.98 | x | 1.65 | x | (3.43 | )x | 0.77 | x | 1.02 | x | ||||||||||||||