Exhibit 12.0
The Chase Manhattan Corporation
and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Year Ended December 31, (in millions, except ratios) 1996
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Excluding Interest on Deposits
Income before income taxes $ 3,811
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Fixed charges:
Interest expense 5,531
One third of rents, net of income from subleases(a) 116
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Total fixed charges 5,647
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Less: Equity in undistributed income of affiliates (64)
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Earnings before taxes and fixed charges,
excluding capitalized interest $ 9,394
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Fixed charges, as above $ 5,647
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Ratio of earnings to fixed charges 1.66
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Including Interest on Deposits
Fixed charges, as above $ 5,647
Add: Interest on deposits 6,038
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Total fixed charges and interest on deposits $ 11,685
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Earnings before taxes and fixed charges,
excluding capitalized interest, as above $ 9,394
Add: Interest on deposits 6,038
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Total earnings before taxes, fixed charges
and interest on deposits $ 15,432
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Ratio of earnings to fixed charges 1.32
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(a) The proportion deemed representative of the interest factor.