Exhibit 12.2
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
| Twelve Months Ended December 31, | ||||||||||||||||||||
| (dollar amounts in thousands of dollars) |
2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
| Earnings: |
||||||||||||||||||||
| Income (loss) before income taxes |
$ | 852,985 | $ | 868,756 | $ | 833,581 | $ | 718,928 | $ | 364,113 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Add: Fixed charges, excluding interest on deposits and preferred stock dividends |
70,692 | 57,027 | 74,379 | 97,035 | 102,969 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Earnings available for fixed charges, excluding interest on deposits |
923,677 | 925,783 | 907,960 | 815,963 | 467,082 | |||||||||||||||
| Add: Interest on deposits |
86,453 | 116,241 | 162,167 | 260,051 | 439,049 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Earnings available for fixed charges, including interest on deposits |
1,010,130 | 1,042,024 | 1,070,127 | 1,076,014 | 906,131 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Fixed Charges: |
||||||||||||||||||||
| Interest expense, excluding interest on deposits |
52,868 | 39,788 | 57,572 | 81,004 | 87,537 | |||||||||||||||
| Interest factor in net rental expense |
17,824 | 17,239 | 16,807 | 16,031 | 15,432 | |||||||||||||||
| Preferred stock dividends |
31,854 | 31,869 | 31,989 | 30,813 | 172,032 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total fixed charges, excluding interest on deposits |
102,546 | 88,896 | 106,368 | 127,848 | 275,001 | |||||||||||||||
| Add: Interest on deposits |
86,453 | 116,241 | 162,167 | 260,051 | 439,049 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total fixed charges, including interest on deposits |
$ | 188,999 | $ | 205,137 | $ | 268,535 | $ | 387,899 | $ | 714,050 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
||||||||||||||||||||
| Excluding interest on deposits |
9.01 | x | 10.41 | x | 8.54 | x | 6.38 | x | 1.70 | x | ||||||||||
| Including interest on deposits |
5.34 | x | 5.08 | x | 3.99 | x | 2.77 | x | 1.27 | x | ||||||||||