Exhibit 12.2
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
| (Unaudited) Nine Months Ended September 30, |
Twelve Months Ended December 31, | |||||||||||||||||||||||||||
| (dollar amounts in thousands) |
2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||||
| Earnings: |
||||||||||||||||||||||||||||
| Income (loss) before income taxes |
$ | 603,497 | $ | 538,422 | $ | 707,234 | $ | 352,311 | $ | (3,678,183 | ) | $ | (296,008 | ) | $ | 22,643 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Add: Fixed charges, excluding interest on deposits and preferred stock dividends |
60,955 | 73,668 | 97,035 | 102,969 | 155,269 | 351,672 | 431,320 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Earnings available for fixed charges, excluding interest on deposits |
664,452 | 612,090 | 804,269 | 455,280 | (3,522,914 | ) | 55,664 | 453,963 | ||||||||||||||||||||
| Add: Interest on deposits |
126,450 | 209,085 | 260,051 | 439,050 | 674,101 | 931,679 | 1,026,388 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Earnings available for fixed charges, including interest on deposits |
790,902 | 821,175 | 1,064,320 | 894,330 | (2,848,813 | ) | 987,343 | 1,480,351 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Fixed Charges: |
||||||||||||||||||||||||||||
| Interest expense, excluding interest on deposits |
48,349 | 61,780 | 81,004 | 87,537 | 139,754 | 334,952 | 415,063 | |||||||||||||||||||||
| Interest factor in net rental expense |
12,606 | 11,888 | 16,031 | 15,432 | 15,515 | 16,720 | 16,257 | |||||||||||||||||||||
| Preferred stock dividends |
24,016 | 23,110 | 30,813 | 172,032 | 174,756 | 46,400 | — | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total fixed charges, excluding interest on deposits |
84,971 | 96,778 | 127,848 | 275,001 | 330,025 | 398,072 | 431,320 | |||||||||||||||||||||
| Add: Interest on deposits |
126,450 | 209,085 | 260,051 | 439,050 | 674,101 | 931,679 | 1,026,388 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total fixed charges, including interest on deposits |
$ | 211,421 | $ | 305,863 | $ | 387,899 | $ | 714,051 | $ | 1,004,126 | $ | 1,329,751 | $ | 1,457,708 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
|
|||||||||||||||||||||||||||
| Excluding interest on deposits |
7.82 | x | 6.32 | x | 6.29 | x | 1.66 | x | (10.67 | )x | 0.14 | x | 1.05 | x | ||||||||||||||
| Including interest on deposits |
3.74 | x | 2.68 | x | 2.74 | x | 1.25 | x | (2.84 | )x | 0.74 | x | 1.02 | x | ||||||||||||||