NationsBank Corporation and Subsidiaries Exhibit 12(b)
Ratio of Earnings to Fixed Charges and Preferred Dividends
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(Dollars in Millions)
Six Months Year ended December 31
Ended ----------------------------------------------------------------
June 30, 1997 1996 1995 1994 1993 1992
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Excluding Interest on Deposits
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Income before taxes .............................. $ 2,298 $ 3,634 $ 2,991 $ 2,555 $ 1,991 $ 1,396
Equity in undistributed losses (earnings)
of unconsolidated subsidiaries ................. 1 2 (7) (3) (5) (1)
Fixed charges:
Interest expense (including
capitalized interest) ..................... 2,196 4,125 4,480 2,896 1,421 916
Amortization of debt discount and
appropriate issuance costs ................ 9 20 12 8 6 3
1/3 of net rent expense ..................... 72 126 125 114 96 91
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Total fixed charges ...................... 2,277 4,271 4,617 3,018 1,523 1,010
Preferred dividend requirements .................. 11 22 13 15 16 29
Earnings (excluding capitalized interest) ........ $ 4,576 $ 7,907 $ 7,601 $ 5,570 $ 3,509 $ 2,398
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Fixed charges .................................... $ 2,288 $ 4,293 $ 4,630 $ 3,033 $ 1,539 $ 1,039
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Ratio of Earnings to Fixed Charges ............... 2.00 1.84 1.64 1.84 2.28 2.31
Including Interest on Deposits
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Income before taxes .............................. $ 2,298 $ 3,634 $ 2,991 $ 2,555 $ 1,991 $ 1,396
Equity in undistributed losses (earnings)
of unconsolidated subsidiaries ................. 1 2 (7) (3) (5) (1)
Fixed charges:
Interest expense (including
capitalized interest) .......................... 4,189 7,447 7,761 5,310 3,570 3,688
Amortization of debt discount and
appropriate issuance costs ..................... 9 20 12 8 6 3
1/3 of net rent expense .......................... 72 126 125 114 96 91
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Total fixed charges ...................... 4,270 7,593 7,898 5,432 3,672 3,782
Preferred dividend requirements .................. 11 22 13 15 16 29
Earnings (excluding capitalized interest) ........ $ 6,569 $ 11,229 $ 10,882 $ 7,984 $ 5,658 $ 5,170
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Fixed charges .................................... $ 4,281 $ 7,615 $ 7,911 $ 5,447 $ 3,688 $ 3,811
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Ratio of Earnings to Fixed Charges ............... 1.53 1.47 1.38 1.47 1.53 1.36