MARSHALL & ILSLEY CORP - FORM 10-K - EX-12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - March 1, 2010

Attached files

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EX-21 - SUBSIDIARIES - MARSHALL & ILSLEY CORPdex21.htm
EX-23 - CONSENT OF DELOITTE & TOUCHE LLP - MARSHALL & ILSLEY CORPdex23.htm
EX-24 - POWERS OF ATTORNEY - MARSHALL & ILSLEY CORPdex24.htm
EX-31.(A) - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF EXECUTIVE OFFICER - MARSHALL & ILSLEY CORPdex31a.htm
EX-10.(T) - LETTER OF AMENDMENT BETWEEN M&I AND MR. FURLONG DATED FEBRUARY 17, 2009 - MARSHALL & ILSLEY CORPdex10t.htm
EX-10.(TT) - FORM OF OMNIBUS AMENDMENT AGREEMENTS - MARSHALL & ILSLEY CORPdex10tt.htm
EX-10.(SS) - FORM OF RESTRICTED STOCK AGREEMENT - MARSHALL & ILSLEY CORPdex10ss.htm
10-K - FORM 10-K - MARSHALL & ILSLEY CORPd10k.htm
EX-32.(A) - SECTION 1350 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - MARSHALL & ILSLEY CORPdex32a.htm
EX-31.(B) - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF FINANCIAL OFFICER - MARSHALL & ILSLEY CORPdex31b.htm
EX-32.(B) - SECTION 1350 CERTIFICATION OF CHIEF FINANCIAL OFFICER - MARSHALL & ILSLEY CORPdex32b.htm
EX-99 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER - MARSHALL & ILSLEY CORPdex99.htm

Exhibit (12)

MARSHALL & ILSLEY CORPORATION

Computation of Ratio of Earnings to Fixed Charges

($000’s)

 

    Years Ended December 31,  
    2009     2008     2007     2006     2005  

Excluding interest on deposits:

          

Income (loss) before income taxes

   $ (1,394,272 )    $ (2,502,118 )    $ 713,475      $ 960,416      $ 869,990   

Less: Net income attributable to noncontrolling interests

     (1,578 )      (869 )      (2,895 )      (5,267 )      (5,207 ) 
                                       

Net income (loss) before income taxes attributable to Marshall & Ilsley Corporation

     (1,395,850 )      (2,502,987 )      710,580        955,149        864,783   

Fixed charges

     362,967        606,463        831,420        671,203        442,234   
                                       

Earnings

   $ (1,032,883 )    $ (1,896,524 )    $ 1,542,000      $ 1,626,352      $ 1,307,017   
                                       

Fixed charges:

          

Interest expense — short-term borrowings

   $ 9,550      $ 139,627      $ 236,671      $ 186,746      $ 106,220   

Interest expense — long-term borrowings

     340,308        454,413        585,025        476,540        329,876   

1/3 of rent expense (1)

     13,109        12,423        9,724        7,917        6,138   
                                       

Fixed charges

   $ 362,967      $ 606,463      $ 831,420      $ 671,203      $ 442,234   
                                       

Preferred stock dividends (2)

     154,098        19,595        —          —          —     
                                       

Fixed charges and preferred stock dividends

   $ 517,065      $ 626,058      $ 831,420      $ 671,203      $ 442,234   
                                       

Ratio of earnings to fixed charges (3)

     n.m.        n.m.        1.85x        2.42x        2.96x   

Ratio of earnings to fixed charges and preferred dividends (3)

     n.m.        n.m.        1.85x        2.42x        2.96x   

Including interest on deposits:

          

Income (loss) before income taxes attributable to Marshall & Ilsley Corporation

   $ (1,395,850 )    $ (2,502,987 )    $ 710,580      $ 955,149      $ 864,783   

Fixed charges

     898,393        1,509,407        2,062,672        1,754,595        1,004,786   
                                       

Earnings

   $ (497,457 )    $ (993,580 )    $ 2,773,252      $ 2,709,744      $ 1,869,569   
                                       

Fixed charges:

          

Fixed charges

   $ 362,967      $ 606,463      $ 831,420      $ 671,203      $ 442,234   

Interest expense – deposits

     535,426        902,944        1,231,252        1,083,392        562,552   
                                       

Fixed charges

   $ 898,393      $ 1,509,407      $ 2,062,672      $ 1,754,595      $ 1,004,786   
                                       

Preferred stock dividends (2)

     154,098        19,595        —          —          —     
                                       

Fixed charges and preferred stock dividends

   $ 1,052,491      $ 1,529,002      $ 2,062,672      $ 1,754,595      $ 1,004,786   
                                       

Ratio of earnings to fixed charges (3)

     n.m.        n.m.        1.34x        1.54x        1.86x   

Ratio of earnings to fixed charges and preferred dividends (3)

     n.m.        n.m.        1.34x        1.54x        1.86x   

 

(1) Represents one-third of rental expense for all operating leases (the amount deemed representative of the interest factor).
(2) Assuming a Federal income tax rate of 35%.
(3) The amount of the deficiency is $1,549,948 and $2,522,582 for the years ended December 31, 2009 and 2008, respectively.