Exhibit 12(b) BANK OF AMERICA CORPORATION AND SUBSIDIARIES RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
- -------------------------------------------------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------------------------------------------------- Preferred dividend requirements 7 9 10 40 183 - -------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $19,607 $25,935 $22,474 $18,024 $19,028 - -------------------------------------------------------------------------------------------------------------------------- Fixed charges and preferred dividends $ 9,503 $14,183 $10,436 $ 9,854 $8,704 - -------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges and preferred dividends 2.06 1.83 2.15 1.83 2.19 ========================================================================================================================== - -------------------------------------------------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------------------------------------------------- Preferred dividend requirements 7 9 10 40 183 - -------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $28,493 $36,945 $31,476 $28,835 $29,712 - -------------------------------------------------------------------------------------------------------------------------- Fixed charges and preferred dividends $18,389 $25,193 $19,438 $20,665 $19,388 - -------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges and preferred dividends 1.55 1.47 1.62 1.40 1.53 ==========================================================================================================================