HSBC Finance Corp – ‘10-Q’ for 6/30/98 – EX-12

As of:  Friday, 8/14/98   ·   For:  6/30/98   ·   Accession #:  354964-98-30   ·   File #:  1-08198

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                      31    164K 
 2: EX-3.1      Articles of Incorporation/Organization or By-Laws     60±   220K 
 3: EX-3.2      Articles of Incorporation/Organization or By-Laws     11±    42K 
 4: EX-10.1     Material Contract                                      5     20K 
 5: EX-12       Statement re: Computation of Ratios                    2±     9K 
 6: EX-21       Subsidiaries of the Registrant                         7±    32K 
 7: EX-27       Financial Data Schedule                                2±    10K 
 8: EX-27.1     Restated Financial Data Schedule                       2±     9K 
 9: EX-99.1     Miscellaneous Exhibit                                  1      8K 

EX-12   —   Statement re: Computation of Ratios

EXHIBIT 12                
----------                

HOUSEHOLD INTERNATIONAL, INC. AND SUBSIDIARIES                                  

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND TO COMBINED               
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS                                     

                                                                [Download Table]

------------------------------------------------------------------   
All dollar amounts are stated in millions.                           
Six months ended June 30                           1998       1997   
------------------------------------------------------------------   
                                                                     
Net income (loss)                              $ (143.8)  $  470.8   
Income taxes                                       87.4      255.8   
                                               --------   --------   
Income (loss) before income taxes                 (56.4)     726.6   
                                               --------   --------   
Fixed charges:                                                       
  Interest expense <F1>                         1,238.6    1,164.4   
  Interest portion of rentals <F2>                 28.6       26.3   
                                               --------   --------   
Total fixed charges                             1,267.2    1,190.7   
                                               --------   --------   
Total earnings as defined                      $1,210.8   $1,917.3   
                                               ========   ========   
Ratio of earnings to fixed charges <F4>             .96       1.61   
                                               ========   ========   
Ratio of earnings to fixed charges, excluding                        
   merger and integration related costs            1.74         -    
                                               ========   ========   
Preferred stock dividends <F3>                 $   12.9   $   13.6   
                                               ========   ========   
Ratio of earnings to combined fixed charges                          
  and preferred stock dividends <F4>                .95       1.59   
                                               ========   ========   
Ratio of earnings to combined fixed charges                          
  and preferred stock dividends, excluding                           
  merger and integration related costs             1.73         -    
                                               ========   ========   
<FN>                                                                 
<F1>  For financial statement purposes, interest expense includes    
      income earned on temporary investment of excess funds,         
      generally resulting from over-subscriptions of commercial      
      paper.                                                         

<F2>  Represents one-third of rentals, which approximates the        
      portion representing interest.                                 

<F3>  Preferred stock dividends are grossed up to their pretax       
      equivalent based upon an effective tax rate, excluding         
      merger and integration related costs, of 35.7 percent          
      for the six months ended June 30, 1998 and 35.2 percent        
      for the same period in 1997.                                   

<F4>  The 1998 ratios have been negatively impacted by the one-time  
      merger and integration related costs associated with our merger
      with Beneficial Corporation.  As a result, ratios excluding    
      these costs have also been presented for comparative purposes. 
</FN>                                                                

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing		Date		Other Filings
Filed on:		8/14/98		8-K
For Period End:		6/30/98		8-K
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