Attached files
| file | filename |
|---|---|
| S-1 - S-1 - CITIZENS FINANCIAL GROUP INC/RI | d64155ds1.htm |
| EX-23.1 - EX-23.1 - CITIZENS FINANCIAL GROUP INC/RI | d64155dex231.htm |
Exhibit 12.1
Citizens Financial Group
Computation of Ratio of Earnings to Fixed Charges
| RATIOS OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||||||
| Three Months Ended March 31, 2015 |
Year Ended December 31, | |||||||||||||||||||||||
| December 31, 2014 |
December 31, 2013 |
December 31, 2012 |
December 31, 2011 |
December 31, 2010 |
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| (dollars in millions) |
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| Computation of Earnings: |
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| Income (loss) from continuing operations before income tax expense |
$ | 315 | $ | 1,268 | $ | (3,468 | ) | $ | 1,024 | $ | 778 | $ | (49 | ) | ||||||||||
| Fixed charges |
119 | 417 | 499 | 669 | 941 | 1,465 | ||||||||||||||||||
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| Total Adjusted Earnings |
$ | 434 | $ | 1,685 | $ | (2,969 | ) | $ | 1,693 | $ | 1,719 | $ | 1,416 | |||||||||||
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| Computation of Fixed Charges: |
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| Interest expense |
$ | 106 | $ | 363 | $ | 443 | $ | 619 | $ | 884 | $ | 1,408 | ||||||||||||
| Portion of net rental expense deemed representative of interest(1) |
13 | 54 | 56 | 50 | 57 | 57 | ||||||||||||||||||
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| Total fixed charges |
$ | 119 | $ | 417 | $ | 499 | $ | 669 | $ | 941 | $ | 1,465 | ||||||||||||
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| Ratio of Earnings to Fixed Charges |
3.6 | 4.0 | (5.9 | )(2) | 2.5 | 1.8 | 1.0 | (3) | ||||||||||||||||
| (1) | The portion of rents shown as representative of the interest factor is one-quarter of total net operating lease expenses. |
| (2) | The deficiency for this period was $3,468 million due in part to a goodwill impairment charge of $4,435 million ($4,080 million after tax). |
| (3) | The deficiency for this period was $49 million. |