EX-99.1 7 a07-19022_1ex99d1.htm EX-99.1

EXHIBIT 99.1

WASHINGTON MUTUAL, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2007

 

2006

 

2007

 

2006

 

 

 

(dollars in millions)

 

Earnings, including interest on deposits(1):

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

$

1,240

 

$

1,148

 

$

2,479

 

$

2,682

 

Fixed charges

 

2,756

 

2,922

 

5,726

 

5,509

 

 

 

$

3,996

 

$

4,070

 

$

8,205

 

$

8,191

 

Fixed charges(1)(2):

 

 

 

 

 

 

 

 

 

Interest expense

 

$

2,714

 

$

2,875

 

$

5,641

 

$

5,416

 

Estimated interest component of net rental expense

 

42

 

47

 

85

 

93

 

 

 

$

2,756

 

$

2,922

 

$

5,726

 

$

5,509

 

Ratio of earnings to fixed charges

 

1.45

 

1.39

 

1.43

 

1.49

 

Earnings, excluding interest on deposits(1):

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

$

1,240

 

$

1,148

 

$

2,479

 

$

2,682

 

Fixed charges

 

1,033

 

1,461

 

2,231

 

2,827

 

 

 

$

2,273

 

$

2,609

 

$

4,710

 

$

5,509

 

Fixed charges(1)(2):

 

 

 

 

 

 

 

 

 

Interest expense

 

$

2,714

 

$

2,875

 

$

5,641

 

$

5,416

 

Less: interest on deposits

 

(1,723

)

(1,461

)

(3,495

)

(2,682

)

Estimated interest component of net rental expense

 

42

 

47

 

85

 

93

 

 

 

$

1,033

 

$

1,461

 

$

2,231

 

$

2,827

 

Ratio of earnings to fixed charges

 

2.20

 

1.79

 

2.11

 

1.95

 

(1)                 As defined in Item 503(d) of Regulation S-K.

(2)                 Fixed charges exclude interest expense on uncertain tax positions which is included as a component of income taxes in the Consolidated Statements of Income.