EX-12 9 dex12.htm STATEMENT RE: COMPUTATION OF RATIOS Prepared by R.R. Donnelley Financial -- STATEMENT RE: COMPUTATION OF RATIOS
EXHIBIT 12
 
STATEMENT REGARDING COMPUTATION OF RATIOS
 
The ratios of income to fixed charges have been computed on the basis of the total enterprise (as defined by the Commission) by dividing income before fixed charges and income taxes by fixed charges. Fixed charges consist of interest expense on all long-term and short-term borrowings, excluding or including interest on deposits as indicated below. The computations of other ratios are evident from the information presented in this Form 10-K and the Corporation’s 2001 Annual Report.
 
BANK ONE CORPORATION AND SUBSIDIARIES
COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
 
    
Year Ended
2001
     
Year Ended
2000(1)
     
Year Ended
1999
     
Year Ended
1998
     
Year Ended
1997
  
    
(In millions, except ratios)
  
EXCLUDING INTEREST ON DEPOSITS:
                                             
Pretax income from continuing operations
   
$
3,800
 
   
$
(1,080
)
   
$
4,974
 
   
$
4,465
 
   
$
4,427
 
Earnings from unconsolidated entities under the equity method of accounting
   
 
(80
)
   
 
(129
)
   
 
(47
)
   
 
34
 
   
 
(6
)
Fixed charges, excluding capitalized interest
   
 
3,868
 
   
 
5,198
 
   
 
3,719
 
   
 
3,321
 
   
 
3,196
 
    
  
  
  
  
Adjusted pretax earnings base
   
 
7,588
 
   
 
3,989
 
   
 
8,646
 
   
 
7,820
 
   
 
7,617
 
Interest, excluding interest on deposits
   
 
3,771
 
   
 
5,105
 
   
 
3,622
 
   
 
3,235
 
   
 
3,096
 
Rental factor
   
 
96
 
   
 
93
 
   
 
97
 
   
 
90
 
   
 
100
 
Capitalized interest
   
 
4
 
   
 
9
 
   
 
2
 
   
 
3
 
   
 
(1
)
    
  
  
  
  
Fixed charges
   
 
3,871
 
   
 
5,207
 
   
 
3,721
 
   
 
3,328
 
   
 
3,195
 
Consolidated ratios of earnings to fixed charges, excluding interest on deposits
   
 
2.0
x
   
 
0.8
x
   
 
2.3
x
   
 
2.3
x
   
 
2.4
x
INCLUDING INTEREST ON DEPOSITS:
                                             
Pretax income from continuing operations
   
 
3,800
 
   
 
(1,080
)
   
 
4,974
 
   
 
4,465
 
   
 
4,427
 
Earnings from unconsolidated entities under the equity method of accounting
   
 
(80
)
   
 
(129
)
   
 
(47
)
   
 
34
 
   
 
(6
)
Fixed charges, excluding capitalized interest
   
 
8,763
 
   
 
11,335
 
   
 
8,370
 
   
 
8,286
 
   
 
8,183
 
    
  
  
  
  
Adjusted pretax earnings base
   
 
12,483
 
   
 
10,126
 
   
 
13,297
 
   
 
12,767
 
   
 
12,604
 
Interest, including interest on deposits
   
 
8,666
 
   
 
11,242
 
   
 
8,273
 
   
 
8,177
 
   
 
8,084
 
Rental factor
   
 
96
 
   
 
93
 
   
 
97
 
   
 
90
 
   
 
100
 
Capitalized interest
   
 
4
 
   
 
9
 
   
 
2
 
   
 
3
 
   
 
(1
)
    
  
  
  
  
Fixed charges
   
 
8,766
 
   
 
11,344
 
   
 
8,372
 
   
 
8,270
 
   
 
8,183
 
Consolidated ratios of earnings to fixed charges, including interest on deposits
   
 
1.4
x
   
 
0.9
x
   
 
1.6
x
   
 
1.5
x
   
 
1.5
x
(1)
 
Results for the year ended December 31, 2000 were insufficient to cover fixed charges. The coverage deficiency was approximately $1.2 billion.