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Previous: DORAL FINANCIAL CORP, S-3, EX-5.1, 2000-12-29 |
Next: DORAL FINANCIAL CORP, S-3, EX-12.2, 2000-12-29 |
<PAGE> 1
EXHIBIT 12(1)
DORAL FINANCIAL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
------------------------------------------------------
1999 1998 1997 1996 1995
-------- -------- -------- ------- -------
<S> <C> <C> <C> <C> <C>
INCLUDING INTEREST ON DEPOSITS
EARNINGS:
Pre-tax income from continuing operations $ 76,613 $ 59,839 $ 37,797 $31,279 $22,060
Plus:
Fixed Charges (excluding capitalized interest) 163,269 115,894 62,269 47,130 44,442
-------- -------- -------- ------- -------
TOTAL EARNINGS $239,882 $175,733 $100,066 $78,409 $66,502
======== ======== ======== ======= =======
FIXED CHARGES:
Interest expensed and capitalized $160,712 $114,396 $ 60,912 $45,857 $43,380
Amortized premiums, discounts, and capitalized
expenses related to indebtedness 2,286 544 526 586 372
An estimate of the interest component within rental expense 1,474 1,080 831 687 690
-------- -------- -------- ------- -------
TOTAL FIXED CHARGES $164,472 $116,020 $ 62,269 $47,130 $44,442
======== ======== ======== ======= =======
RATIO OF EARNINGS TO FIXED CHARGES 1.46 1.51 1.61 1.66 1.50
======== ======== ======== ======= =======
EXCLUDING INTEREST ON DEPOSITS
EARNINGS:
Pre-tax income from continuing operations $ 76,613 $ 59,839 $ 37,797 $31,279 $22,060
Plus:
Fixed Charges (excluding capitalized interest) 127,485 98,456 52,255 41,604 41,081
-------- -------- -------- ------- -------
TOTAL EARNINGS $204,098 $158,295 $ 90,052 $72,883 $63,141
======== ======== ======== ======= =======
FIXED CHARGES:
Interest expensed and capitalized $124,928 $ 96,916 $ 50,898 $40,331 $40,019
Amortized premiums, discounts, and capitalized
expenses related to indebtedness 2,286 544 526 586 372
An estimate of the interest component within rental expense 1,474 1,080 831 687 690
-------- -------- -------- ------- -------
TOTAL FIXED CHARGES $128,688 $ 98,540 $ 52,255 $41,604 $41,081
======== ======== ======== ======= =======
RATIO OF EARNINGS TO FIXED CHARGES 1.59 1.61 1.72 1.75 1.54
======== ======== ======== ======= =======
</TABLE>
<PAGE> 2
DORAL FINANCIAL CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
<TABLE>
<CAPTION>
NINE-MONTH
PERIOD ENDED
SEPTEMBER 30, 2000
------------------
<S> <C>
INCLUDING INTEREST ON DEPOSITS
EARNINGS:
Pre-tax income from continuing operations $ 70,596
Plus:
Fixed Charges (excluding capitalized interest) 280,359
--------
TOTAL EARNINGS $278,955
========
FIXED CHARGES:
Interest expensed and capitalized $208,758
Amortized premiums, discounts, and capitalized
expenses related to indebtedness 1,546
An estimate of the interest component within
rental expense 1,543
--------
TOTAL FIXED CHARGES $211,847
========
RATIO OF EARNINGS TO FIXED CHARGES 1.32
========
EXCLUDING INTEREST ON DEPOSITS
EARNINGS:
Pre-tax income from continuing operations $ 70,596
Plus:
Fixed Charges (excluding capitalized interest) 163,606
--------
TOTAL EARNINGS $234,202
========
FIXED CHARGES:
Interest expensed and capitalized $164,005
Amortized premiums, discounts, and capitalized
expenses related to indebtedness 1,546
An estimate of the interest component within
rental expense 1,543
--------
TOTAL FIXED CHARGES $167,094
========
RATIO OF EARNINGS TO FIXED CHARGES 1.40
========
</TABLE>
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