EX-12.1 2 ex121123115.htm EXHIBIT 12.1 Exhibit



Exhibit No. 12.1

MUFG AMERICAS HOLDINGS CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 
For the Years Ended December 31,
(In millions, except ratios)
 
2015
 
2014 (1)
 
2013 (1)
 
2012 (1)
 
2011 (1)
Excluding Interest on Deposits
 
 

 
 

 
 

 
 

 
 

Income (loss) before income taxes and including noncontrolling interests
 
$
679

 
$
1,156

 
$
908

 
$
882

 
$
1,109

Fixed Charges:
 
 
 
 

 
 

 
 

 
 

Interest expense, excluding interest on deposits
 
221

 
170

 
159

 
156

 
155

Estimated interest component of net rental expense (2)
 
43

 
34

 
34

 
26

 
26

Total fixed charges
 
264

 
204

 
193

 
182

 
181

Income before income taxes and including noncontrolling interests, excluding fixed charges
 
$
943

 
$
1,360

 
$
1,101

 
$
1,064

 
$
1,290

Ratio of earnings to fixed charges
 
3.57

 
6.67

 
5.70

 
5.85

 
7.13

 
 
 
 
 
 
 
 
 
 
 
Including Interest on Deposits
 
 

 
 

 
 

 
 

 
 

Fixed charges
 
$
264

 
$
204

 
$
193

 
$
182

 
$
181

Add: Interest on deposits
 
200

 
238

 
248

 
214

 
204

Total fixed charges including interest on deposits
 
$
464

 
$
442

 
$
441

 
$
396

 
$
385

Income before income taxes and including noncontrolling interests, excluding fixed charges as above
 
$
943

 
$
1,360

 
$
1,101

 
$
1,064

 
$
1,290

Add: Interest on deposits
 
200

 
238

 
248

 
214

 
204

Total earnings before income taxes and including noncontrolling interests, excluding fixed charges, and including interest on deposits
 
$
1,143

 
$
1,598

 
$
1,349

 
$
1,278

 
$
1,494

Ratio of earnings to fixed charges
 
2.46

 
3.62

 
3.06

 
3.23

 
3.88

 
 
(1)
Prior period amounts have been revised to reflect the January 1, 2015 adoption of Accounting Standards Update 2014-01 related to investments in qualified affordable housing projects.
(2)
The proportion deemed representative of the interest factor.