EXHIBIT 12(a)
BANKERS TRUST CORPORATION AND SUBSIDIARIES
COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
(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 10) 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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Fixed Charges:
7. Interest Expense $ 5,105 $ 5,451 $ 5,926 $ 6,919 $ 3,612 $ 2,271
8. Estimated interest
component of net
rental expense 33 32 33 35 42 29
9. Amortization of debt
issuance expense -- -- -- -- -- --
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10. Total fixed charges
including interest on
deposits and excluding
capitalized interest 5,138 5,483 5,959 6,954 3,654 2,300
11. Add: Capitalized
interest -- -- -- -- -- --
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12. Total fixed charges 5,138 5,483 5,959 6,954 3,654 2,300
13. Less: Interest on
deposits
(Line 5) 1,360 1,355 2,076 2,195 1,424 793
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14. Fixed charges excluding
interest on deposits $ 3,778 $ 4,128 $ 3,883 $ 4,759 $ 2,230 $ 1,507
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Consolidated Ratios of Earnings
to Fixed Charges:
Including interest on
deposits
(Line 4/Line 12) 1.09 1.20 1.23 .99 N/A 1.29
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Excluding interest on
deposits
(Line 6/Line 14) 1.12 1.27 1.35 .98 N/A 1.44
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</TABLE>
For the years ended December 31, 1999 and 1998, earnings, as defined, did not
cover fixed charges, including and excluding interest on deposits by $1,490
million and $92 million, respectively, as a result of a net loss recorded during
the period. N/A - Not Applicable.
