EX-12.2 3 a122compratioearningscombf.htm EXHIBIT 12.2 Exhibit
EXHIBIT 12.2

CITIZENS FINANCIAL GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
 
Year Ended December 31,
(dollars in millions)
2017
 
2016
 
2015
 
2014
 
2013(2)
Computation of Earnings:
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before income tax expense

$1,912

 

$1,534

 

$1,263

 

$1,268

 

($3,468
)
Fixed charges
813

 
573

 
510

 
417

 
499

Total Adjusted Earnings

$2,725

 

$2,107

 

$1,773

 

$1,685

 

($2,969
)
 
 
 
 
 
 
 
 
 
 
Computation of Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense

$747

 

$508

 

$452

 

$363

 

$443

Portion of net rental expense deemed representative of interest (1)
52

 
51

 
51

 
54

 
56

Preferred distribution
14

 
14

 
7

 
—

 
—

Total Fixed Charges

$813

 

$573

 

$510

 

$417

 

$499

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges and Preferred Dividends
3.3

 
3.7

 
3.5

 
4.0

 
(5.9
)

(1) The portion of rents shown as representative of the interest factor is one-quarter of total net operating lease expenses.
(2) The deficiency for this period was $3,468 million due in part to a goodwill impairment charge of $4,435 million ($4,080 million after tax).