EX-12.1 20 g00055exv12w1.txt EX-12.1 THE CORPORATION'S COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 POPULAR, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (Dollars in thousands)
Year Ended December 31, ------------------------------------------------------------------------------------- 2005 2004 2003 2002 2001 ------------- ------------- ------------- ------------- ------------- Income before income taxes $ 680,942 $ 628,067 $ 597,410 $ 463,606 $ 408,404 Fixed charges: Interest expense 1,241,652 840,754 749,550 863,553 1,039,105 Estimated interest component of net rental payments 27,454 25,068 22,940 19,963 18,713 Total fixed charges including interest on deposits 1,269,106 865,822 772,490 883,516 1,057,818 Less: Interest on deposits 430,813 330,351 342,891 432,415 517,881 Total fixed charges excluding interest on deposits 838,293 535,471 429,599 451,101 539,937 Income before income taxes and fixed charges(including interest on deposits) $ 1,950,048 $ 1,493,889 $ 1,369,900 $ 1,347,122 $ 1,466,222 Income before income taxes and fixed charges(excluding interest on deposits) $ 1,519,234 $ 1,163,538 $ 1,027,009 $ 914,707 $ 948,340 Preferred stock dividends 11,913 11,913 9,919 2,510 8,350 Ratio of earnings to fixed charges Including Interest on Deposits 1.5 1.7 1.8 1.5 1.4 Excluding Interest on Deposits 1.8 2.2 2.4 2.0 1.8 Ratio of earnings to fixed charges & Preferred Stock Dividends Including Interest on Deposits 1.5 1.7 1.7 1.5 1.4 Excluding Interest on Deposits 1.8 2.1 2.3 2.0 1.7