WACHOVIA PREFERRED FUNDING CORP - FORM 10-Q - EX-12.B - COMPUTATION OF CONSOLIDATED RATIOS OF EARNING TO FIXED CHARGES AND PREFERRED - November 10, 2010

Attached files

file filename
10-Q - FORM 10-Q - WACHOVIA PREFERRED FUNDING CORPd10q.htm
EX-32.B - SECTION 906 CFO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORPdex32b.htm
EX-12.A - COMPUTATION OF CONSOLIDATED RATIONS OF EARNINGS TO FIXED CHARGES - WACHOVIA PREFERRED FUNDING CORPdex12a.htm
EX-31.A - SECTION 302 CEO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORPdex31a.htm
EX-32.A - SECTION 906 CEO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORPdex32a.htm
EX-31.B - SECTION 302 CFO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORPdex31b.htm
EX-99 - WELLS FARGO SUPPLEMENTARY CONSOLIDATING FINANCIAL INFORMATION - WACHOVIA PREFERRED FUNDING CORPdex99.htm

 

Exhibit (12)(b)

WACHOVIA PREFERRED FUNDING CORP.

AND SUBSIDIARIES

COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

 

 

 

     Quarter ended Sept. 30,          Nine months ended Sept. 30,  
(in thousands)              2010                2009                    2010                2009  
   

Excluding interest on deposits (1)

              

Income before income taxes

    $ 202,161         247,790           503,748         687,695   

Fixed charges, excluding preferred dividends and capitalized interest

      -         148           -         380   
   

Earnings

    $ 202,161         247,938           503,748         688,075   
   

Interest

    $ -         148           -         380   

One-third of rents

      -         -           -         -   

Preferred dividends

      48,957         34,975           140,049         123,921   

Capitalized interest

      -         -           -         -   
   

Fixed charges

    $ 48,957         35,123           140,049         124,301   
   

Consolidated ratios of earnings to fixed charges (2)

      4.13         7.06           3.60         5.54   
   

 

(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.

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