Exhibit 12(a) BANK OF AMERICA CORPORATION AND SUBSIDIARIES RATIO OF EARNINGS TO FIXED CHARGES
- --------------------------------------------------------------------------------------------------------------------------- December 31 -------------------------------------------------------- (Dollars in millions) 2001 2000 1999 1998 1997 - --------------------------------------------------------------------------------------------------------------------------- Excluding Interest on Deposits Income before income taxes $10,117 $11,788 $12,215 $ 8,048 $10,556 Less: Equity in undistributed earnings of unconsolidated subsidiaries (6) (27) (167) 162 (49) Fixed charges: Interest expense (including capitalized interest) 9,117 13,806 10,084 9,479 8,219 1/3 of net rent expense 379 368 342 335 302 - --------------------------------------------------------------------------------------------------------------------------- Total fixed charges 9,496 14,174 10,426 9,814 8,521 - --------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $19,607 $25,935 $22,474 $18,024 $19,028 - --------------------------------------------------------------------------------------------------------------------------- Fixed charges $ 9,496 $14,174 $10,426 $ 9,814 $ 8,521 - --------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges 2.06 1.83 2.16 1.84 2.23 =========================================================================================================================== - --------------------------------------------------------------------------------------------------------------------------- December 31 -------------------------------------------------------- (Dollars in millions) 2001 2000 1999 1998 1997 - --------------------------------------------------------------------------------------------------------------------------- Including Interest on Deposits Income before income taxes $10,117 $11,788 $12,215 $ 8,048 $10,556 Less: Equity in undistributed earnings of unconsolidated subsidiaries (6) (27) (167) 162 (49) Fixed charges: Interest expense (including capitalized interest) 18,003 24,816 19,086 20,290 18,903 1/3 of net rent expense 379 368 342 335 302 - --------------------------------------------------------------------------------------------------------------------------- Total fixed charges 18,382 25,184 19,428 20,625 19,205 - --------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $28,493 $36,945 $31,476 $28,835 $29,712 - --------------------------------------------------------------------------------------------------------------------------- Fixed charges $18,382 $25,184 $19,428 $20,625 $19,205 - --------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges 1.55 1.47 1.62 1.40 1.55 ===========================================================================================================================