Exhibit 99.2
Computation of Consolidated Ratio of Earnings
($ in million) | IFRS | |||||||||||||||||||
2022 | 2021 | 2020 | 2019 | 2018 | ||||||||||||||||
Excluding interest on deposits |
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Earnings |
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Income from continuing operations before income taxes |
12,932 | 12,826 | 8,396 | 11,270 | 11,106 | |||||||||||||||
less: gain from investees |
268 | 339 | 242 | 650 | 559 | |||||||||||||||
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12,664 | 12,487 | 8,154 | 10,620 | 10,547 | ||||||||||||||||
Fixed charges |
2,649 | 1,560 | 1,661 | 1,894 | 1,475 | |||||||||||||||
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Earnings |
15,313 | 14,047 | 9,815 | 12,514 | 12,022 | |||||||||||||||
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Fixed charges |
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Interest expense |
2,649 | 1,560 | 1,661 | 1,736 | 1,332 | |||||||||||||||
Estimate of the interest within rental expense |
| | | 158 | 143 | |||||||||||||||
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Fixed charges |
2,649 | 1,560 | 1,661 | 1,894 | 1,475 | |||||||||||||||
Preference security dividend requirements(1) |
330 | 300 | 240 | 233 | 238 | |||||||||||||||
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Fixed charges and preferred dividends |
2,979 | 1,860 | 1,901 | 2,127 | 1,713 | |||||||||||||||
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Ratio of earnings to fixed charges |
5.78 | 9.00 | 5.91 | 6.61 | 8.15 | |||||||||||||||
Ratio of earnings to combined fixed charges and preferred dividends |
5.14 | 7.55 | 5.16 | 5.88 | 7.02 | |||||||||||||||
Including interest on deposits |
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Earnings |
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Income from continuing operations before income taxes |
12,932 | 12,826 | 8,396 | 11,270 | 11,106 | |||||||||||||||
less: gain from investees |
268 | 339 | 242 | 650 | 559 | |||||||||||||||
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12,664 | 12,487 | 8,154 | 10,620 | 10,547 | ||||||||||||||||
Fixed charges |
15,443 | 8,025 | 12,392 | 15,765 | 12,019 | |||||||||||||||
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Earnings |
28,107 | 20,512 | 20,546 | 26,385 | 22,566 | |||||||||||||||
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Fixed charges |
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Interest expense |
15,443 | 8,025 | 12,392 | 15,607 | 11,876 | |||||||||||||||
Estimate of the interest within rental expense |
| | | 158 | 143 | |||||||||||||||
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Fixed charges |
15,443 | 8,025 | 12,392 | 15,765 | 12,019 | |||||||||||||||
Preference security dividend requirements(1) |
330 | 300 | 240 | 233 | 238 | |||||||||||||||
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Fixed charges and preferred dividends |
15,773 | 8,325 | 12,632 | 15,998 | 12,257 | |||||||||||||||
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Ratio of earnings to fixed charges |
1.82 | 2.56 | 1.66 | 1.67 | 1.88 | |||||||||||||||
Ratio of earnings to combined fixed charges and preferred dividends |
1.78 | 2.46 | 1.63 | 1.65 | 1.84 |
Note (1) | Preference security dividend requirements include the amount of pre-tax earnings that is required to pay the dividends on outstanding preference securities. |