EXHIBIT 12
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
for the fiscal years ended September 30, | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||
Income before taxes excluding equity in income of investees, minority interest in earnings of consolidated subsidiaries and capitalized interest | $ | 2,406,424 | $ | 1,824,729 | $ | 1,397,275 | $ | 977,039 | $ | 694,399 | |||||
Additions: | |||||||||||||||
Dividends received from equity-method investees | 19,537 | 22,486 | — | 69 | — | ||||||||||
Fixed charges | |||||||||||||||
Interest expense-excluding interest on deposits | 23,595 | 30,155 | 34,563 | 32,254 | 22,924 | ||||||||||
Interest expense-deposits | 14,344 | 14,391 | 7,651 | 4,295 | 6,122 | ||||||||||
Interest factor on rent1 | 17,318 | 16,736 | 15,717 | 13,020 | 13,413 | ||||||||||
Total fixed charges | $ | 55,257 | $ | 61,282 | $ | 57,931 | $ | 49,569 | $ | 42,459 | |||||
Adjusted earnings | $ | 2,481,218 | $ | 1,908,497 | $ | 1,455,206 | $ | 1,026,677 | $ | 736,858 | |||||
Ratio of adjusted earnings to fixed charges-including interest on deposits | 44.9 | 31.1 | 25.1 | 20.7 | 17.4 | ||||||||||
Ratio of adjusted earnings to fixed charges-excluding interest on deposits | 60.3 | 40.4 | 28.8 | 22.6 | 20.1 |
1 | Interest factor on rent represents one-third of rental expense (the approximate portion of rental expense representing interest). |
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