EXHIBIT 12(b)
BANKERS TRUST CORPORATION AND SUBSIDIARIES
COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENTS
(dollars in millions)
<TABLE>
<CAPTION>
Nine Months
Ended
Year Ended December 31, September 30,
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1995 1996 1997 1998 1999 2000
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<S> <C> <C> <C> <C> <C> <C>
Earnings:
1. Income (loss) before
income taxes $ 469 $ 1,131 $ 1,239 $ (77) $(1,415) $ 709
2. Add: Fixed charges
excluding
capitalized
interest
(Line 13) 5,138 5,483 5,959 6,954 3,654 2,300
3. Less: Equity in undistri-
buted income of
unconsolidated
subsidiaries and
affiliates 28 30 (117) 15 75 39
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4. Earnings including
interest on deposits 5,579 6,584 7,315 6,862 2,164 2,970
5. Less: Interest on
deposits 1,360 1,355 2,076 2,195 1,424 793
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6. Earnings excluding
interest on deposits $ 4,219 $ 5,229 $ 5,239 $ 4,667 $ 740 $ 2,177
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Preferred Stock Dividend Requirements:
7. Preferred stock dividend
requirements $ 51 $ 51 $ 49 $ 32 $ 23 $ 19
8. Ratio of income (loss) from
continuing operations
before income taxes to
income (loss) from
continuing operations
after income taxes 151% 148% 143% 105% 88% 237%
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9. Preferred stock dividend
requirements on a pretax
basis $ 77 $ 75 $ 70 $ 34 $ 20 $ 45
=================================================================
Fixed Charges:
10. Interest Expense $ 5,105 $ 5,451 $ 5,926 $ 6,919 $ 3,612 $ 2,271
11. Estimated interest
component of net
rental expense 33 32 33 35 42 29
12. Amortization of debt
issuance expense -- -- -- -- -- --
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13. Total fixed charges
including interest on
deposits and excluding
capitalized interest 5,138 5,483 5,959 6,954 3,654 2,300
14. Add: Capitalized
interest -- -- -- -- -- --
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15. Total fixed charges 5,138 5,483 5,959 6,954 3,654 2,300
<PAGE>
16. Add: Preferred stock
dividend require-
ments - pretax
(Line 9) 77 75 70 34 20 45
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17. Total combined fixed
charges and preferred
stock dividend require-
ments on a pretax
basis 5,215 5,558 6,029 6,988 3,674 2,345
18. Less: Interest on
deposits
(Line 5) 1,360 1,355 2,076 2,195 1,424 793
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19. Combined fixed charges
and preferred stock
dividend requirements
on a pretax basis
excluding interest on
deposits $ 3,855 $ 4,203 $ 3,953 $ 4,793 $ 2,250 $ 1,552
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Consolidated Ratios of Earnings
to Combined Fixed Charges
and Preferred Stock
Dividend Requirements:
Including interest on
deposits
(Line 4/Line 17) 1.07 1.18 1.21 0.98 N/A 1.27
=================================================================
Excluding interest on
deposits
(Line 6/Line 19) 1.09 1.24 1.32 0.97 N/A 1.40
=================================================================
</TABLE>
For the years ended December 31, 1999 and 1998, earnings, as defined, did not
cover fixed charges, and preferred stock dividend requirements, including and
excluding interest on deposits, by $1,510 million and by $126 million,
respectively, as a result of a net loss recorded during the period. N/A - Not
Applicable.
