Exhibit 12.1
RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED
CHARGES AND PREFERRED STOCK DIVIDENDS
Year Ended December 31, | Nine Months Ended | |||||||||||||||||||||||
2006 | 2007 | 2008 | 2009 | 2010 | September 30, 2011 | |||||||||||||||||||
(Dollars in millions) | ||||||||||||||||||||||||
Ratio of earnings to fixed charges | 7.11 | 6.97 | N/A | N/A | 8.71 | 11.22 | ||||||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 6.91 | 6.78 | N/A | N/A | 8.71 | 11.22 | ||||||||||||||||||
Insufficiency of earnings to cover fixed charges | N/A | N/A | $ | 4,208 | $ | 4,574 | N/A | N/A | ||||||||||||||||
Insufficiency of earnings to cover combined fixed charges and preferred stock dividends | N/A | N/A | $ | 4,217 | $ | 4,574 | N/A | N/A |
N/A means not applicable.