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EXHIBIT (12)
HELLER FINANCIAL, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS
TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(unaudited)
(dollars in millions)
<TABLE>
<CAPTION>
For the Six
Months Ended
June 30, 2000
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<S> <C>
Net income before income taxes and minority interest............... $219
Add-Fixed charges
Interest and debt expense........................................ 462
One-third of rentals............................................. 5
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Total fixed charges......................................... 467
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Net income, as adjusted............................................ $686
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Ratio of earnings to fixed charges................................. 1.47x
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Preferred stock dividends on a pre-tax basis....................... $ 22
Total combined fixed charges and preferred stock dividends.. 489
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Ratio of earnings to combined fixed charges and
preferred stock dividends........................................ 1.40x
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</TABLE>
For purposes of computing the ratio of earnings to combined fixed charges and
preferred stock dividends, "earnings" includes income before income taxes, the
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.
