Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - DORAL FINANCIAL CORP | g26364e10vk.htm |
| EX-23 - EX-23 - DORAL FINANCIAL CORP | g26364exv23.htm |
| EX-21 - EX-21 - DORAL FINANCIAL CORP | g26364exv21.htm |
| EX-32.1 - EX-32.1 - DORAL FINANCIAL CORP | g26364exv32w1.htm |
| EX-32.2 - EX-32.2 - DORAL FINANCIAL CORP | g26364exv32w2.htm |
| EX-31.2 - EX-31.2 - DORAL FINANCIAL CORP | g26364exv31w2.htm |
| EX-12.2 - EX-12.2 - DORAL FINANCIAL CORP | g26364exv12w2.htm |
| EX-31.1 - EX-31.1 - DORAL FINANCIAL CORP | g26364exv31w1.htm |
| EX-10.22 - EX-10.22 - DORAL FINANCIAL CORP | g26364exv10w22.htm |
Exhibit
12.1
Section 2: EX-12.1 (EX-12.1)
Doral Financial Corporation
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
| For the year ended December 31, | ||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
Including Interest on Deposits |
||||||||||||||||||||
(Losses) Earnings: |
||||||||||||||||||||
Pre-tax loss from continuing operations |
$ | (277,011 | ) | $ | (42,621 | ) | $ | (32,258 | ) | $ | (302,762 | ) | $ | (272,008 | ) | |||||
Plus: |
||||||||||||||||||||
Fixed Charges (excluding capitalized
interest) |
243,458 | 293,019 | 349,621 | 427,141 | 623,668 | |||||||||||||||
Total (Losses) Earnings |
$ | (33,553 | ) | $ | 250,398 | $ | 317,363 | $ | 124,379 | $ | 351,660 | |||||||||
Fixed Charges: |
||||||||||||||||||||
Interest expensed and capitalized |
$ | 240,275 | $ | 290,451 | $ | 347,001 | $ | 423,986 | $ | 619,094 | ||||||||||
Amortized premiums, discounts, and
capitalized expenses related to
indebtedness |
642 | 187 | 192 | 633 | 1,411 | |||||||||||||||
An estimate of the interest component
within rental expense |
2,541 | 2,381 | 2,428 | 2,522 | 3,163 | |||||||||||||||
Total Fixed Charges |
$ | 243,458 | $ | 293,019 | $ | 349,621 | $ | 427,141 | $ | 623,668 | ||||||||||
Ratio of Earnings to Fixed Charges |
(A | ) | (A | ) | (A | ) | (A | ) | (A | ) | ||||||||||
Excluding Interest on Deposits |
||||||||||||||||||||
(Losses) Earnings: |
||||||||||||||||||||
Pre-tax loss from continuing operations |
$ | (277,011 | ) | $ | (42,621 | ) | $ | (32,258 | ) | $ | (302,762 | ) | $ | (272,008 | ) | |||||
Plus: |
||||||||||||||||||||
Fixed Charges (excluding capitalized
interest) |
132,620 | 167,886 | 192,891 | 255,909 | 468,250 | |||||||||||||||
Total (Losses) Earnings |
$ | (144,391 | ) | $ | 125,265 | $ | 160,633 | $ | (46,853 | ) | $ | 196,242 | ||||||||
Fixed Charges: |
||||||||||||||||||||
Interest expensed and capitalized |
$ | 129,437 | $ | 165,318 | $ | 190,271 | $ | 252,754 | $ | 463,676 | ||||||||||
Amortized premiums, discounts, and
capitalized expenses related to
indebtedness |
642 | 187 | 192 | 633 | 1,411 | |||||||||||||||
An estimate of the interest component
within rental expense |
2,541 | 2,381 | 2,428 | 2,522 | 3,163 | |||||||||||||||
Total Fixed Charges |
$ | 132,620 | $ | 167,886 | $ | 192,891 | $ | 255,909 | $ | 468,250 | ||||||||||
Ratio of Earnings to Fixed Charges |
(A | ) | (A | ) | (A | ) | (A | ) | (A | ) | ||||||||||
| (A) | Due to the Company’s pre-tax loss for the year ended December 31, 2010, 2009, 2008, 2007 and 2006 the ratio coverage was less than 1:1. The Company would have to generate additional earnings of $277.0 million, $42.6 million, $32.3 million, $302.8 million and $272.0 million to achieve a ratio of 1:1 in 2010, 2009, 2008, 2007 and 2006, respectively. |