EX-12 3 ex12-k01.txt Exhibit 12 WASHINGTON MUTUAL FINANCE CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) Year Ended December 31, ----------------------------------------------------------- (Dollars in thousands) 2001 2000 1999 1998 1997 --------- ---------- ---------- --------- --------- Income from operations before income taxes $ 96,255 $ 126,419 $ 118,712 $ 87,587 $ 76,031 --------- ---------- ---------- --------- --------- Fixed charges: Interest and debt expense on all indebtedness 210,450 202,092 149,609 133,211 128,887 Appropriate portion of rentals (33%) 4,019 3,995 3,917 3,718 3,565 --------- ---------- ---------- --------- --------- Total fixed charges 214,469 206,087 153,526 136,929 132,452 --------- ---------- ---------- --------- --------- Earnings available for fixed charges $ 310,724 $ 332,506 $ 272,238 $ 224,516 $ 208,483 ========= ========== ========== ========= ========= Ratio of earnings to fixed charges 1.45 1.61 1.77 1.64 1.57 ========= ========== ========== ========= =========