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Countrywide Financial Corp – ‘10-K’ for 12/31/07 – EX-12.1

On:  Friday, 2/29/08, at 5:04pm ET   ·   For:  12/31/07   ·   Accession #:  1047469-8-2104   ·   File #:  1-12331-01

Previous ‘10-K’:  ‘10-K’ on 3/1/07 for 12/31/06   ·   Next & Latest:  ‘10-K/A’ on 4/24/08 for 12/31/07

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 2/29/08  Countrywide Financial Corp        10-K       12/31/07   29:5.4M                                   Merrill Corp/New/FA

Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   3.64M 
 2: EX-4.39     Instrument Defining the Rights of Security Holders  HTML     65K 
16: EX-10.108A  Material Contract                                   HTML    252K 
17: EX-10.108B  Material Contract                                   HTML     15K 
18: EX-10.108C  Material Contract                                   HTML     32K 
19: EX-10.109A  Material Contract                                   HTML    244K 
20: EX-10.109B  Material Contract                                   HTML     32K 
21: EX-10.109C  Material Contract                                   HTML     31K 
22: EX-10.112   Material Contract                                   HTML     21K 
 3: EX-10.22    Material Contract                                   HTML     16K 
 4: EX-10.25    Material Contract                                   HTML     14K 
 5: EX-10.26    Material Contract                                   HTML     16K 
 6: EX-10.51    Material Contract                                   HTML     14K 
 7: EX-10.52    Material Contract                                   HTML     14K 
 8: EX-10.53    Material Contract                                   HTML     25K 
 9: EX-10.54    Material Contract                                   HTML     26K 
10: EX-10.67    Material Contract                                   HTML     27K 
11: EX-10.68    Material Contract                                   HTML     34K 
12: EX-10.92    Material Contract                                   HTML     20K 
13: EX-10.94    Material Contract                                   HTML     17K 
14: EX-10.95    Material Contract                                   HTML     19K 
15: EX-10.99    Material Contract                                   HTML     13K 
23: EX-12.1     Statement re: Computation of Ratios                 HTML     27K 
24: EX-21       Subsidiaries of the Registrant                      HTML     54K 
25: EX-23       Consent of Experts or Counsel                       HTML     16K 
26: EX-31.1     Certification per Sarbanes-Oxley Act (Section 302)  HTML     17K 
27: EX-31.2     Certification per Sarbanes-Oxley Act (Section 302)  HTML     17K 
28: EX-32.1     Certification per Sarbanes-Oxley Act (Section 906)  HTML     14K 
29: EX-32.2     Certification per Sarbanes-Oxley Act (Section 906)  HTML     14K

EX-12.1   —   Statement re: Computation of Ratios
Exhibit Table of Contents

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11st Page   -   Filing Submission
"Exhibit 12.1
"Countrywide Financial Corporation and Subsidiaries Exhibit 12.1-Computation of the Ratio of Earnings to Fixed Charges
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Exhibit 12.1


COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES
EXHIBIT 12.1—COMPUTATION OF THE RATIO OF EARNINGS TO FIXED CHARGES

        The following table sets forth the ratio of earnings to fixed charges of the Company for the years ended December 31, 2007, 2006, 2005, 2004 and 2003, computed by dividing net fixed charges (interest expense on all debt plus the interest element (one-third) of operating leases) into earnings (earnings before income taxes and fixed charges).

 
   Years Ended December 31,
(dollar amounts in thousands)
  2007
   2006
   2005
   2004
   2003
Net (loss) earnings   $ (703,538 ) $ 2,674,846   $ 2,528,090   $ 2,197,574   $ 2,372,950
Income tax (benefit) expense     (606,736 )   1,659,289     1,619,676     1,398,299     1,472,822
Interest expense     10,287,800     9,133,682     5,616,425     2,608,338     1,940,207
Interest portion of rental expense     85,528     77,055     62,104     53,562     36,565
   
 
 
 
 
Earnings available to cover fixed charges   $ 9,063,054   $ 13,544,872   $ 9,826,295   $ 6,257,773   $ 5,822,544
   
 
 
 
 
Fixed charges:                              
  Interest expense   $ 10,287,800   $ 9,133,682   $ 5,616,425   $ 2,608,338   $ 1,940,207
  Interest portion of rental expense     85,528     77,055     62,104     53,562     36,565
   
 
 
 
 
    Total fixed charges   $ 10,373,328   $ 9,210,737   $ 5,678,529   $ 2,661,900   $ 1,976,772
   
 
 
 
 
Ratio of earnings to fixed charges     0.87     1.47     1.73     2.35     2.95
   
 
 
 
 



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COUNTRYWIDE FINANCIAL CORPORATION AND SUBSIDIARIES EXHIBIT 12.1—COMPUTATION OF THE RATIO OF EARNINGS TO FIXED CHARGES

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/29/083
For Period End:12/31/0710-K/A,  11-K,  5
12/31/0610-K,  11-K,  5
12/31/0510-K,  11-K,  5
12/31/0410-K,  11-K,  4,  5,  5/A
12/31/0310-K,  11-K,  4,  5,  8-K
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Filing Submission 0001047469-08-002104   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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