WACHOVIA PREFERRED FUNDING CORP - FORM 10-K - EX-12.A - COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS - March 23, 2011

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-99 - WELLS FARGO & COMPANY SUPPLEMENTARY CONSOLIDATING FINANCIAL INFORMATION - WACHOVIA PREFERRED FUNDING CORPdex99.htm
EX-32.B - SECTION 906 CFO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORPdex32b.htm
EX-31.B - SECTION 302 CFO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORPdex31b.htm
EX-32.A - SECTION 906 CEO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORPdex32a.htm
EX-12.B - COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS - WACHOVIA PREFERRED FUNDING CORPdex12b.htm
EX-31.A - SECTION 302 CEO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORPdex31a.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)    2010        2009        2008        2007        2006  

Excluding interest on deposits (1)

                       

Income before income taxes

    $  770,334           869,245           780,437           1,083,871           1,059,575   

Fixed charges, excluding capitalized interest

      -           380           6,148           28,618           17,466   

Earnings

    $ 770,334           869,625           786,585           1,112,489           1,077,041   

Interest

    $ -           380           6,148           28,618           17,466   

One-third of rents

      -           -           -           -           -   

Capitalized interest

      -           -           -           -           -   

Fixed charges

    $ -           380           6,148           28,618           17,466   

Consolidated ratios of earnings to fixed charges (2)

 

     

 

 NM

 

   

 

       

 

 2,288.49

 

   

 

       

 

 127.94

 

   

 

       

 

 38.87

 

   

 

       

 

 61.67

 

   

 

NM - Not meaningful

(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.

 

71

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