WACHOVIA PREFERRED FUNDING CORP - FORM 10-K - EX-12.(A) - COMPUTATIONS OF CONS. RATIOS OF EARNINGS TO FIXED CHARGES - March 23, 2010

Attached files

file filename
10-K - FORM 10-K - WACHOVIA PREFERRED FUNDING CORPd10k.htm
EX-21 - LIST OF SUBSIDIARIES - WACHOVIA PREFERRED FUNDING CORPdex21.htm
EX-24 - POWER OF ATTORNEY - WACHOVIA PREFERRED FUNDING CORPdex24.htm
EX-32.(B) - CERTIFICATION OF CFO PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT - WACHOVIA PREFERRED FUNDING CORPdex32b.htm
EX-99.(B) - SELECTED UNAUDITED FINANCIAL INFORMATION FOR WACHOVIA BANK - WACHOVIA PREFERRED FUNDING CORPdex99b.htm
EX-99.(A) - SELECTED WELLS FARGO & CO. AND SUBS AND WACH CORP AND SUBS. SUPP CONS FIN INFOR. - WACHOVIA PREFERRED FUNDING CORPdex99a.htm
EX-32.(A) - CERTIFICATION OF CEO PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT - WACHOVIA PREFERRED FUNDING CORPdex32a.htm
EX-31.(A) - CERTIFICATION OF CEO PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT - WACHOVIA PREFERRED FUNDING CORPdex31a.htm
EX-12.(B) - COMP. OF CON. RATIOS OF EARNINGS TO FIXED CHARGES AND PREF STOCK DIVIDENDS - WACHOVIA PREFERRED FUNDING CORPdex12b.htm
EX-31.(B) - CERTIFICATION OF CFO PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT - WACHOVIA PREFERRED FUNDING CORPdex31b.htm

Exhibit (12)(a)

 

WACHOVIA PREFERRED FUNDING CORP.

AND SUBSIDIARIES

 

COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES

 

    Years Ended December 31,

(In thousands)

   2009    2008    2007   2006   2005
    (Successor)    (Predecessor)    (Predecessor)   (Predecessor)   (Predecessor)

EXCLUDING INTEREST ON DEPOSITS (1)

            

Income before income taxes

   $ 869,245    780,437    1,083,871   1,059,575   725,648

Fixed charges, excluding capitalized interest

     380    6,148    28,618   17,466   4,196
                       

Earnings

  $ 869,625    786,585    1,112,489   1,077,041   729,844
                       

Interest

   $ 380    6,148    28,618   17,466   4,196

One-third of rents

     —      —      —     —     —  

Capitalized interest

     —      —      —     —     —  
                       

Fixed charges

  $ 380    6,148    28,618   17,466   4,196
                       

Consolidated ratios of earnings to fixed charges (2)

     2,288.49    127.94    38.87   61.67   173.94
                       

 

(1) As defined in Item 503(d) of Regulation S-K.
(2) These computations are included herein in compliance with Securities and Exchange Commission regulations. However, management believes that fixed charge ratios are not meaningful measures for the business of Wachovia Funding. For example, even if there was no change in net income, the ratios would decline if interest income and interest expense increase by the same amount due to an increase in the level of interest rates or, conversely, they would increase if interest income and interest expense decrease by the same amount due to a decrease in the level of interest rates.

WACHOVIA PREFERRED FUNDING CORP Reports