Attached files
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| 8-K - FORM 8-K - KEYCORP /NEW/ | d623146d8k.htm |
EXHIBIT 12
KEYCORP
COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in millions)
(unaudited)
| Nine months ended September 30, | Year ended December 31, | |||||||||||||||||||||||||||
| 2013 | 2012 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||||||
| Computation of Earnings |
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| Net income (loss) attributable to Key |
$ | 680 | $ | 655 | $ | 858 | $ | 920 | $ | 554 | $ | (1,335 | ) | $ | (1,468 | ) | ||||||||||||
| Add: Provision for income taxes |
201 | 178 | 239 | 369 | 186 | (1,035 | ) | 437 | ||||||||||||||||||||
| Less: Income (loss) from discontinued operations, net of taxes |
45 | 16 | 9 | (44 | ) | (23 | ) | (48 | ) | (173 | ) | |||||||||||||||||
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| Income (loss) before income taxes and cumulative effect of accounting change |
836 | 817 | 1,088 | 1,333 | 763 | (2,322 | ) | (858 | ) | |||||||||||||||||||
| Fixed charges, excluding interest on deposits |
118 | 158 | 200 | 248 | 244 | 314 | 597 | |||||||||||||||||||||
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| Total earnings for computation, excluding interest on deposits |
954 | 975 | 1,288 | 1,581 | 1,007 | (2,008 | ) | (261 | ) | |||||||||||||||||||
| Interest on deposits |
124 | 208 | 257 | 390 | 671 | 1,119 | 1,468 | |||||||||||||||||||||
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| Total earnings for computation, including interest on deposits |
$ | 1,078 | $ | 1,183 | $ | 1,545 | $ | 1,971 | $ | 1,678 | $ | (889 | ) | $ | 1,207 | |||||||||||||
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| Computation of Fixed Charges |
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| Net rental expense |
$ | 85 | $ | 80 | $ | 109 | $ | 106 | $ | 120 | $ | 122 | $ | 111 | ||||||||||||||
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| Portion of net rental expense deemed representative of interest |
$ | 13 | $ | 12 | $ | 16 | $ | 16 | $ | 18 | $ | 18 | $ | 28 | ||||||||||||||
| Interest on short-term borrowed funds |
7 | 8 | 11 | 16 | 20 | 21 | 187 | |||||||||||||||||||||
| Interest on long-term debt |
98 | 138 | 173 | 216 | 206 | 275 | 382 | |||||||||||||||||||||
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| Total fixed charges, excluding interest on deposits |
118 | 158 | 200 | 248 | 244 | 314 | 597 | |||||||||||||||||||||
| Interest on deposits |
124 | 208 | 257 | 390 | 671 | 1,119 | 1,468 | |||||||||||||||||||||
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| Total fixed charges, including interest on deposits |
$ | 242 | $ | 366 | $ | 457 | $ | 638 | $ | 915 | $ | 1,433 | $ | 2,065 | ||||||||||||||
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| Combined Fixed Charges and Preferred Stock Dividends |
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| Preferred stock dividend requirement on a pre-tax basis |
$ | 17 | $ | 16 | $ | 22 | $ | 107 | $ | 164 | $ | 294 | $ | 42 | ||||||||||||||
| Total fixed charges, excluding interest on deposits |
118 | 158 | 200 | 248 | 244 | 314 | 597 | |||||||||||||||||||||
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| Combined fixed charges and preferred stock dividends, excluding interest on deposits |
135 | 174 | 222 | 355 | 408 | 608 | 639 | |||||||||||||||||||||
| Interest on deposits |
124 | 208 | 257 | 390 | 671 | 1,119 | 1,468 | |||||||||||||||||||||
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| Combined fixed charges and preferred stock dividends, including interest on deposits |
$ | 259 | $ | 382 | $ | 479 | $ | 745 | $ | 1,079 | $ | 1,727 | $ | 2,107 | ||||||||||||||
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| Ratio of Earnings to Fixed Charges |
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| Excluding deposit interest |
8.08 | 6.17 | 6.44 | 6.37 | 4.13 | (6.39 | ) | (.44 | ) | |||||||||||||||||||
| Including deposit interest |
4.45 | 3.23 | 3.38 | 3.09 | 1.83 | (0.62 | ) | .58 | ||||||||||||||||||||
| Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
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| Excluding deposit interest |
7.07 | 5.60 | 5.80 | 4.45 | 2.47 | (3.30 | ) | (.41 | ) | |||||||||||||||||||
| Including deposit interest |
4.16 | 3.10 | 3.23 | 2.65 | 1.56 | (.51 | ) | .57 | ||||||||||||||||||||