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EXHIBIT 12.1
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STATEMENT RE COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
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For the Twelve Months Ended September 30
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(Dollars in thousands) 2000 1999 1998 1997 1996
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FIXED CHARGES:
Real estate
Interest and debt expense $ 45,974 $ 39,585 $ 42,817 $ 40,819 $ 40,514
Ground rent -- -- 69 101 101
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Total fixed charges for ratio - real estate 45,974 39,585 42,886 40,920 40,615
Banking
Interest expense 394,400 245,507 238,410 239,815 188,836
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Total fixed charges for ratio - total company $ 440,374 $ 285,092 $ 281,296 $ 280,735 $ 229,451
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EARNINGS:
Operating income - total company $ 77,351 $ 85,689 $ 165,950 $ 61,194 $ 21,935
Total fixed charges for ratio - total company 440,374 285,092 281,296 280,735 229,451
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Total earnings for ratio $ 517,725 $ 370,781 $ 447,246 $ 341,929 $ 251,386
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RATIO OF EARNINGS TO FIXED CHARGES 1.2 x 1.3 x 1.6 x 1.2 x 1.1 x
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Excess of available earnings over fixed charges $ 77,351 $ 85,689 $ 165,950 $ 61,194 $ 21,935
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