EXHIBIT (12)
HELLER FINANCIAL, INC.
COMPUTATION OF RATIO OF EARNINGS
TO COMBINED FIXED CHARGES AND PREFERRED STOCK
DIVIDENDS
| |
|
1999
|
|
1998
|
|
1997
|
|
1996
|
|
1995
|
| |
|
(dollar amounts in
millions) |
| Net income before income
taxes and minority interest |
|
$ 439 |
|
|
$290 |
|
|
$233 |
|
|
$183 |
|
|
$181 |
|
| Add-Fixed
charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and debt expense |
|
685 |
|
|
624 |
|
|
516 |
|
|
452 |
|
|
464 |
|
|
One-third of rentals |
|
10 |
|
|
11 |
|
|
8 |
|
|
7 |
|
|
7 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total fixed charges |
|
695 |
|
|
635 |
|
|
524 |
|
|
459 |
|
|
471 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income as
adjusted |
|
1,134 |
|
|
925 |
|
|
757 |
|
|
642 |
|
|
652 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ratio of earnings to fixed
charges |
|
1.63 |
x |
|
1.46 |
x |
|
1.44 |
x |
|
1.40 |
x |
|
1.38 |
x |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Preferred stock dividends
on a pre-tax basis |
|
$ 44 |
|
|
$ 31 |
|
|
$ 21 |
|
|
$ 13 |
|
|
$ 14 |
|
|
Total combined fixed charges and preferred stock
dividends |
|
739 |
|
|
666 |
|
|
545 |
|
|
472 |
|
|
485 |
|
Ratio of earnings to
combined fixed charges and preferred stock
dividends |
|
1.53 |
x |
|
1.39 |
x |
|
1.39 |
x |
|
1.36 |
x |
|
1.34 |
x |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For
purposes of computing the ratio of earnings to combined fixed charges and
preferred stock dividends, earnings includes income before income
taxes, minority interest and fixed charges. Combined fixed charges and
preferred stock dividends includes interest on all indebtedness, one
third of annual rentals (approximate portion representing interest) and
preferred stock dividends on a pre-tax basis.
