Exhibit 12.1
SVB Financial Group and Subsidiaries
Ratio of Earnings to Fixed Charges
Six months ended June 30, 2010 | Year ended December 31, | |||||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||
(Dollars in thousands, except for ratios) | ||||||||||||||||||||||||
Excluding Interest on Deposits | ||||||||||||||||||||||||
Income before income tax expense | $ | 75,797 | $ | 45,847 | $ | 107,360 | $ | 233,506 | $ | 161,283 | $ | 156,691 | ||||||||||||
Net (income) loss attributable to non controlling interests | (10,719 | ) | 37,370 | 19,139 | (28,596 | ) | (6,308 | ) | (3,396 | ) | ||||||||||||||
Income from equity investees | (1,528 | ) | (3,191 | ) | (248 | ) | (2,960 | ) | (470 | ) | — | |||||||||||||
Fixed Charges | 13,291 | 31,084 | 50,326 | 58,333 | 29,889 | 9,665 | ||||||||||||||||||
Total earnings | $ | 76,841 | $ | 111,110 | $ | 176,577 | $ | 260,283 | $ | 184,394 | $ | 162,960 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 11,456 | $ | 27,730 | $ | 46,967 | $ | 54,259 | $ | 26,277 | $ | 6,233 | ||||||||||||
Estimated interest component of rental expense | 1,835 | 3,354 | 3,359 | 4,074 | 3,612 | 3,432 | ||||||||||||||||||
Total fixed charges | $ | 13,291 | $ | 31,084 | $ | 50,326 | $ | 58,333 | $ | 29,889 | $ | 9,665 | ||||||||||||
Ratio of earnings to fixed charges | 5.78 | 3.57 | 3.51 | 4.46 | 6.17 | 16.86 | ||||||||||||||||||
Including Interest on Deposits | ||||||||||||||||||||||||
Income before income tax expense | $ | 75,797 | $ | 45,847 | $ | 107,360 | $ | 233,506 | $ | 161,283 | $ | 156,691 | ||||||||||||
Net (income) loss attributable to noncontrolling interests | (10,719 | ) | 37,370 | 19,139 | (28,596 | ) | (6,308 | ) | (3,396 | ) | ||||||||||||||
Income from equity investees | (1,528 | ) | (3,191 | ) | (248 | ) | (2,960 | ) | (470 | ) | — | |||||||||||||
Fixed Charges | 20,823 | 52,430 | 74,255 | 71,618 | 38,794 | 20,598 | ||||||||||||||||||
Total earnings | $ | 84,373 | $ | 132,456 | $ | 200,506 | $ | 273,568 | $ | 193,299 | $ | 173,893 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 18,988 | $ | 49,076 | $ | 70,896 | $ | 67,544 | $ | 35,182 | $ | 17,166 | ||||||||||||
Estimated interest component of rental expense | 1,835 | 3,354 | 3,359 | 4,074 | 3,612 | 3,432 | ||||||||||||||||||
Total fixed charges | $ | 20,823 | $ | 52,430 | $ | 74,255 | $ | 71,618 | $ | 38,794 | $ | 20,598 | ||||||||||||
Ratio of earnings to fixed charges | 4.05 | 2.53 | 2.70 | 3.82 | 4.98 | 8.44 | ||||||||||||||||||