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EXHIBIT 12
ADVANTA CORP. AND SUBSIDIARIES
CONSOLIDATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (A)
(DOLLARS IN THOUSANDS)
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<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
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2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Net earnings (loss) $ 15,744 $ 14,178 $(159,882) $ 33,263
Federal and state income tax
expense 0 9,256 0 21,564
Earnings (loss) before income
tax expense (benefit) 15,744 23,434 (159,882) 54,827
Fixed charges:
Interest 52,005 41,935 151,490 128,529
One-third of all rentals 712 771 2,233 2,364
Preferred stock dividend
of subsidiary trust 2,248 2,248 6,743 6,743
Total fixed charges 54,965 44,954 160,466 137,636
Earnings (loss) before income
taxes (benefits) and fixed
charges 70,709 68,388 584 192,463
Ratio of earnings to
fixed charges 1.29x 1.52x N/M (B) 1.40x
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(A) For purposes of computing these ratios, "earnings" represent income before
income taxes plus fixed charges. "Fixed charges" consist of interest
expense, one-third (the proportion deemed representative of the interest
factor) of rental expense on operating leases, and preferred stock
dividends of subsidiary trust.
(B) The ratio calculated based on the loss in the nine months ended September
30, 2000 is zero and therefore not meaningful. In order to achieve a ratio
of 1.00, earnings before income taxes and fixed charges would need to
increase by $159,882 for the nine months ended September 30, 2000.
