EXHIBIT 99.1
WASHINGTON MUTUAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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Three Months Ended |
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Six Months Ended |
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2007 |
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2006 |
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2007 |
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2006 |
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(dollars in millions) |
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Earnings, including interest on deposits(1): |
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Income from continuing operations before income taxes |
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$ |
1,240 |
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$ |
1,148 |
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$ |
2,479 |
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$ |
2,682 |
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Fixed charges |
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2,756 |
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2,922 |
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5,726 |
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5,509 |
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$ |
3,996 |
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$ |
4,070 |
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$ |
8,205 |
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$ |
8,191 |
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Fixed charges(1)(2): |
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Interest expense |
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$ |
2,714 |
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$ |
2,875 |
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$ |
5,641 |
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$ |
5,416 |
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Estimated interest component of net rental expense |
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42 |
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47 |
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85 |
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93 |
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$ |
2,756 |
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$ |
2,922 |
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$ |
5,726 |
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$ |
5,509 |
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Ratio of earnings to fixed charges |
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1.45 |
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1.39 |
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1.43 |
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1.49 |
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Earnings, excluding interest on deposits(1): |
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Income from continuing operations before income taxes |
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$ |
1,240 |
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$ |
1,148 |
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$ |
2,479 |
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$ |
2,682 |
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Fixed charges |
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1,033 |
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1,461 |
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2,231 |
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2,827 |
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$ |
2,273 |
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$ |
2,609 |
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$ |
4,710 |
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$ |
5,509 |
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Fixed charges(1)(2): |
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Interest expense |
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$ |
2,714 |
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$ |
2,875 |
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$ |
5,641 |
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$ |
5,416 |
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Less: interest on deposits |
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(1,723 |
) |
(1,461 |
) |
(3,495 |
) |
(2,682 |
) |
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Estimated interest component of net rental expense |
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42 |
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47 |
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85 |
|
93 |
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$ |
1,033 |
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$ |
1,461 |
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$ |
2,231 |
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$ |
2,827 |
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Ratio of earnings to fixed charges |
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2.20 |
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1.79 |
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2.11 |
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1.95 |
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(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.