SVB FINANCIAL GROUP - FORM 8-K - EX-12.1 - RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS - November 16, 2009

Attached files

file filename
8-K - FORM 8-K - SVB FINANCIAL GROUPd8k.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - SVB FINANCIAL GROUPdex231.htm
EX-99.1 - REVISED MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION - SVB FINANCIAL GROUPdex991.htm

Exhibit 12.1

SVB Financial Group and Subsidiaries

Ratio of Earnings to Fixed Charges and Preferred Dividends

 

     Year ended December 31,  

(Dollars in thousands, except for ratios)

    2008     2007     2006     2005     2004  

Excluding Interest on Deposits

           

Income before noncontrolling interests and income tax expense

    $ 107,360      $ 233,506      $ 161,283      $ 156,691      $ 105,710   

Income from equity investees

      (248 )      (2,960 )      (470 )      —          —     

Fixed charges:

           

Interest expense

      46,967        54,259        26,277        6,233        2,968   

Estimated interest component of rental expense

      3,359        4,074        3,612        3,432        3,695   
                                        

Total fixed charges

      50,326        58,333        29,889        9,665        6,663   

Preferred dividend requirements (1)

      1,204        —          —          —          —     
                                        

Total fixed charges and preferred stock dividends

      51,530        58,333        29,889        9,665        6,663   

Net loss (income) attributable to noncontrolling interests

      19,139        (28,596 )      (6,308 )      (3,396 )      (3,090 ) 
                                        

Total earnings

    $ 176,577      $ 260,283      $ 184,394      $ 162,960      $ 109,283   
                                        

Ratio of earnings to fixed charges

      3.51        4.46        6.17        16.86        16.40   
                                        

Ratio of earnings to fixed charges and preferred dividends

      3.43        4.46        6.17        16.86        16.40   
                                        

Including Interest on Deposits

           

Income before noncontrolling interests and income tax expense

    $ 107,360      $ 233,506      $ 161,283      $ 156,691      $ 105,710   

Income from equity investees

      (248 )      (2,960 )      (470 )      —          —     

Fixed charges:

           

Interest expense

      70,896        67,544        35,182        17,166        11,391   

Estimated interest component of rental expense

      3,359        4,074        3,612        3,432        3,695   
                                        

Total fixed charges

      74,255        71,618        38,794        20,598        15,086   

Preferred dividend requirements (1)

      1,204        —          —          —          —     
                                        

Total fixed charges and preferred stock dividends

      75,459        71,618        38,794        20,598        15,086   

Net loss (income) attributable to noncontrolling interests

      19,139        (28,596 )      (6,308 )      (3,396 )      (3,090 ) 
                                        

Total earnings

    $ 200,506      $ 273,568      $ 193,299      $ 173,893      $ 117,706   
                                        

Ratio of earnings to fixed charges

      2.70        3.82        4.98        8.44        7.80   
                                        

Ratio of earnings to fixed charges and preferred dividends

      2.66        3.82        4.98        8.44        7.80   
                                        

 

(1) The preferred dividends, including discount accretion, were increased to amounts representing the pre-tax earnings that would be required to cover such dividend and discount accretion requirements.

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