Exhibit 12.2
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
| Twelve Months Ended December 31, | ||||||||||||||||||||
| (dollar amounts in thousands of dollars) |
2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||
| Earnings: |
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| Income (loss) before income taxes |
$ | 825,117 | $ | 707,234 | $ | 352,311 | $ | (3,678,183 | ) | $ | (296,008 | ) | ||||||||
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| Add: Fixed charges, excluding interest on deposits and preferred stock dividends |
74,379 | 97,035 | 102,969 | 155,269 | 351,672 | |||||||||||||||
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| Earnings available for fixed charges, excluding interest on deposits |
899,496 | 804,269 | 455,280 | (3,522,914 | ) | 55,664 | ||||||||||||||
| Add: Interest on deposits |
162,167 | 260,051 | 439,049 | 674,101 | 931,679 | |||||||||||||||
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| Earnings available for fixed charges, including interest on deposits |
1,061,663 | 1,064,320 | 894,329 | (2,848,813 | ) | 987,343 | ||||||||||||||
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| Fixed Charges: |
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| Interest expense, excluding interest on deposits |
57,572 | 81,004 | 87,537 | 139,754 | 334,952 | |||||||||||||||
| Interest factor in net rental expense |
16,807 | 16,031 | 15,432 | 15,515 | 16,720 | |||||||||||||||
| Preferred stock dividends |
31,989 | 30,813 | 172,032 | 174,756 | 46,400 | |||||||||||||||
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| Total fixed charges, excluding interest on deposits |
106,368 | 127,848 | 275,001 | 330,025 | 398,072 | |||||||||||||||
| Add: Interest on deposits |
162,167 | 260,051 | 439,049 | 674,101 | 931,679 | |||||||||||||||
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| Total fixed charges, including interest on deposits |
$ | 268,535 | $ | 387,899 | $ | 714,050 | $ | 1,004,126 | $ | 1,329,751 | ||||||||||
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| Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
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| Excluding interest on deposits |
8.46 | x | 6.29 | x | 1.66 | x | (10.67 | )x | 0.14 | x | ||||||||||
| Including interest on deposits |
3.95 | x | 2.74 | x | 1.25 | x | (2.84 | )x | 0.74 | x | ||||||||||