EX-12.1
Published on August 2, 2016
Exhibit 12.1
| Six Months Ended June 30, |
Year Ended December 31, | |||||||||||||||||||||||||||
| Ratio of Earnings to Fixed Charges | 2016 | 2015 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||||
| (dollar amounts in thousands of dollars) | ||||||||||||||||||||||||||||
| Earnings: |
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| Income before income taxes |
$ | 455,094 | $ | 480,123 | $ | 913,605 | $ | 852,985 | $ | 868,756 | $ | 833,581 | $ | 718,928 | ||||||||||||||
| Add: Fixed charges, excluding interest on deposits and preferred stock dividends |
78,086 | 43,068 | 99,613 | 70,692 | 57,027 | 74,379 | 97,035 | |||||||||||||||||||||
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| Earnings available for fixed charges, excluding interest on deposits |
533,180 | 523,191 | 1,013,218 | 923,677 | 925,783 | 907,960 | 815,963 | |||||||||||||||||||||
| Add: Interest on deposits |
45,342 | 39,433 | 82,174 | 86,453 | 116,241 | 162,167 | 260,051 | |||||||||||||||||||||
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| Earnings available for fixed charges, including interest on deposits |
$ | 578,522 | $ | 562,624 | $ | 1,095,392 | $ | 1,010,130 | $ | 1,042,024 | $ | 1,070,127 | $ | 1,076,014 | ||||||||||||||
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| Fixed Charges: |
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| Interest expense, excluding interest on deposits |
$ | 68,620 | $ | 34,087 | $ | 81,610 | $ | 52,868 | $ | 39,788 | $ | 57,572 | $ | 81,004 | ||||||||||||||
| Interest factor in net rental expense |
9,466 | 8,981 | 18,003 | 17,824 | 17,239 | 16,807 | 16,031 | |||||||||||||||||||||
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| Total fixed charges, excluding interest on deposits |
78,086 | 43,068 | 99,613 | 70,692 | 57,027 | 74,379 | 97,035 | |||||||||||||||||||||
| Add: Interest on deposits |
45,342 | 39,433 | 82,174 | 86,453 | 116,241 | 162,167 | 260,051 | |||||||||||||||||||||
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| Total fixed charges, including interest on deposits |
$ | 123,428 | $ | 82,501 | $ | 181,787 | $ | 157,145 | $ | 173,268 | $ | 236,546 | $ | 357,086 | ||||||||||||||
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| Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
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| Excluding interest on deposits |
6.83X | 12.15X | 10.17X | 13.07X | 16.23X | 12.21X | 8.41X | |||||||||||||||||||||
| Including interest on deposits |
4.69X | 6.82X | 6.03X | 6.43X | 6.01X | 4.52X | 3.01X | |||||||||||||||||||||