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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 28, 1997
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Advanta Corp.
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(Exact name of registrant as specified in its charter)
Delaware 0-14120 23-1462070
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
Welsh & McKean Road, P.O. Box 844
Spring House, Pennsylvania 19477
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (215) 657-4000
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(Former name or former address, if changed since last report)
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Item 7. Financial Statements and Exhibits.
(c) Exhibits:
The exhibit listed in the accompanying Index to Exhibits
relates to the Registration Statement (No.333-05701) on Form
S-3 of the registrant and is filed herewith for incorporation
by reference in such Registration Statement.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of l934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Advanta Corp.
(Registrant)
By: /s/ Elizabeth H. Mai
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Elizabeth H. Mai, Senior Vice President
and General Counsel
Date: July 28, 1997
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Index to Exhibits
Exhibit Number Per
Item 60l of
Regulation S-K Description of Document
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12 Computation of Ratio of Earnings to
Fixed Charges
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Exhibit 12
Advanta Corp. and Subsidiaries
Statements setting forth details of computation of ratio
of earnings to fixed charges
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
<TABLE>
<CAPTION>
For The Three
Months Ended
March 31,
1997 1996
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(unaudited)
<S> <C> <C>
Net earnings (loss) ($19,818) $ 41,030
Federal and state income taxes (benefit) (6,891) 21,133
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Earnings (loss) before income taxes (benefit) (26,709) 62,163
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Fixed charges:
Interest 71,462 55,935
One-Third of all rentals 819 461
Preferred stock dividend of subsidiary 2,248 0
trust
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Total fixed charges 74,529 56,396
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Earnings before income taxes and
fixed charges $47,820 $118,559
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Ratio of earnings to fixed charges (A) (B) 2.10x
</TABLE>
(A) For purposes of computing these ratios, "earnings" represent
income before income taxes plus fixed charges, and "fixed
charges" consist of interest expense, one-third (the
proportion deemed representative of the interest factor) of
rental expenses on operating leases and preferred stock
dividends of subsidiary trust.
(B) For the three months ended March 31, 1997, earnings were
inadequate to cover fixed charges. The deficiency was
approximately $26.7 million.
