Bank of America Corporation and Subsidiaries Exhibit 12(a) Ratio of Earnings to Fixed Charges
=========================================================================================================================== Year Ended December 31 ----------------------------------------------------------------------- (Dollars in millions) 2000 1999 1998 1997 1996 1995 - --------------------------------------------------------------------------------------------------------------------------- Excluding Interest on Deposits Income before income taxes $ 11,788 $ 12,215 $ 8,048 $ 10,556 $ 9,311 $ 8,377 Less: Equity in undistributed earnings of unconsolidated subsidiaries (27) (167) 162 (49) (7) (19) Fixed charges: Interest expense (including capitalized interest) 13,806 10,084 9,479 8,219 7,082 6,354 1/3 of net rent expense 368 342 335 302 282 275 - --------------------------------------------------------------------------------------------------------------------------- Total fixed charges 14,174 10,426 9,814 8,521 7,364 6,629 - --------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $ 25,935 $ 22,474 $ 18,024 $ 19,028 $ 16,668 $ 14,987 - --------------------------------------------------------------------------------------------------------------------------- Fixed charges $ 14,174 $ 10,426 $ 9,814 $ 8,521 $ 7,364 $ 6,629 - --------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges 1.83 2.16 1.84 2.23 2.26 2.26 ===========================================================================================================================
- --------------------------------------------------------------------------------------------------------------------------- Year Ended December 31 ----------------------------------------------------------------------- (Dollars in millions) 2000 1999 1998 1997 1996 1995 - --------------------------------------------------------------------------------------------------------------------------- Including Interest on Deposits Income before income taxes $ 11,788 $ 12,215 $ 8,048 $ 10,556 $ 9,311 $ 8,377 Less: Equity in undistributed earnings of unconsolidated subsidiaries (27) (167) 162 (49) (7) (19) Fixed charges: Interest expense (including capitalized interest) 24,816 19,086 20,290 18,903 16,682 16,369 1/3 of net rent expense 368 342 335 302 282 275 - --------------------------------------------------------------------------------------------------------------------------- Total fixed charges 25,184 19,428 20,625 19,205 16,964 16,644 - --------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $ 36,945 $ 31,476 $ 28,835 $ 29,712 $ 26,268 $ 25,002 - --------------------------------------------------------------------------------------------------------------------------- Fixed charges $ 25,184 $ 19,428 $ 20,625 $ 19,205 $ 16,964 $ 16,644 - --------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges 1.47 1.62 1.40 1.55 1.55 1.50 ===========================================================================================================================
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