EX-99.1 13 a2187197zex-99_1.htm EXHIBIT 99.1
QuickLinks -- Click here to rapidly navigate through this document


EXHIBIT 99.1

WASHINGTON MUTUAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
   Three Months Ended
June 30, 		  Six Months Ended
June 30, 		 
 
   2008   2007   2008   2007  
 
   (dollars in millions)
  

Earnings, including interest on deposits(1):

                          

Income (loss) before income taxes

   $ (5,534 ) $ 1,240   $ (7,529 ) $ 2,479  

Fixed charges

     1,945     2,756     4,401     5,726  
                   

  $ (3,589 ) $ 3,996   $ (3,128 ) $ 8,205  
                   

Fixed charges(1)(2):

                          
 

Interest expense

   $ 1,906   $ 2,714   $ 4,321   $ 5,641  
 

Estimated interest component of net rental expense

     39     42     80     85  
                   

  $ 1,945   $ 2,756   $ 4,401   $ 5,726  
                   

Ratio of earnings to fixed charges

     *     1.45     *     1.43  
                   

Earnings, excluding interest on deposits(1):

                          

Income (loss) before income taxes

   $ (5,534 ) $ 1,240   $ (7,529 ) $ 2,479  

Fixed charges

     830     1,033     1,958     2,231  
                   

  $ (4,704 ) $ 2,273   $ (5,571 ) $ 4,710  
                   

Fixed charges(1)(2):

                          
 

Interest expense

   $ 1,906   $ 2,714   $ 4,321   $ 5,641  
 

Less: Interest on deposits

     (1,115 )   (1,723 )   (2,443 )   (3,495 )
 

Estimated interest component of net rental expense

     39     42     80     85  
                   

  $ 830   $ 1,033   $ 1,958   $ 2,231  
                   

Ratio of earnings to fixed charges

     *     2.20     *     2.11  
                   
(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.
*
The earnings for the three and six months ended June 30, 2008 were inadequate to cover total fixed charges. The deficiencies in coverage for the periods were $5.53 billion and $7.53 billion.



QuickLinks