EXHIBIT 99.1

WASHINGTON MUTUAL, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

Three Months Ended
March 31,

 

 

 

2007

 

2006

 

 

 

(dollars in millions)

 

Earnings, including interest on deposits(1):

 

 

 

 

 

Income from continuing operations before income taxes

 

$

1,240

 

$

1,535

 

Fixed charges

 

2,970

 

2,586

 

 

 

$

4,210

 

$

4,121

 

Fixed charges(1)(2):

 

 

 

 

 

Interest expense

 

$

2,927

 

$

2,540

 

Estimated interest component of net rental expense

 

43

 

46

 

 

 

$

2,970

 

$

2,586

 

Ratio of earnings to fixed charges

 

1.42

 

1.59

 

Earnings, excluding interest on deposits(1):

 

 

 

 

 

Income from continuing operations before income taxes

 

$

1,240

 

$

1,535

 

Fixed charges

 

1,198

 

1,365

 

 

 

$

2,438

 

$

2,900

 

Fixed charges(1)(2):

 

 

 

 

 

Interest expense

 

$

2,927

 

$

2,540

 

Less: interest on deposits

 

(1,772

)

(1,221

)

Estimated interest component of net rental expense

 

43

 

46

 

 

 

$

1,198

 

$

1,365

 

Ratio of earnings to fixed charges

 

2.03

 

2.12

 

(1)                 As defined in Item 503(d) of Regulation S-K.

(2)                 Fixed charges exclude interest expense on uncertain tax positions which is included as a component of income taxes in the Consolidated Statements of Income.