NationsBank Corporation and Subsidiaries Exhibit 12(a)
Ratio of Earnings to Fixed Charges
- --------------------------------------------------------------------------------
(Dollars in Millions)
Nine Months Year ended December 31
Ended ---------------------------------------------------------------
September 30, 1997 1996 1995 1994 1993 1992
----------------------------------------------------------------------------------
Excluding Interest on Deposits
- ------------------------------
Income before taxes ..................... $ 3,530 $ 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) ............ 3,394 4,125 4,480 2,896 1,421 916
Amortization of debt discount and
appropriate issuance costs ....... 14 20 12 8 6 3
1/3 of net rent expense ............ 111 126 125 114 96 91
-------------------------------------------------------------------------------
Total fixed charges ............. 3,519 4,271 4,617 3,018 1,523 1,010
Earnings (excluding capitalized interest) $ 7,050 $ 7,907 $ 7,601 $ 5,570 $ 3,509 $ 2,398
===============================================================================
Fixed charges ........................... $ 3,519 $ 4,271 $ 4,617 $ 3,018 $ 1,523 $ 1,010
===============================================================================
Ratio of Earnings to Fixed Charges ...... 2.00 1.85 1.65 1.85 2.30 2.38
Including Interest on Deposits
- ------------------------------
Income before taxes ..................... $ 3,530 $ 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) ............ 6,367 7,447 7,761 5,310 3,570 3,688
Amortization of debt discount and
appropriate issuance costs ....... 14 20 12 8 6 3
1/3 of net rent expense ............ 111 126 125 114 96 91
-------------------------------------------------------------------------------
Total fixed charges ............. 6,492 7,593 7,898 5,432 3,672 3,782
Earnings (excluding capitalized interest) $ 10,023 $ 11,229 $ 10,882 $ 7,984 $ 5,658 $ 5,170
===============================================================================
Fixed charges ........................... $ 6,492 $ 7,593 $ 7,898 $ 5,432 $ 3,672 $ 3,782
===============================================================================
Ratio of Earnings to Fixed Charges ...... 1.54 1.48 1.38 1.47 1.54 1.37
EX-12.(B)
4
RATIO OF EARNINGS
NationsBank Corporation and Subsidiaries Exhibit 12(b)
Ratio of Earnings to Fixed Charges and Preferred Dividends
- --------------------------------------------------------------------------------
(Dollars in Millions)
Nine Months Year ended December 31
Ended ---------------------------------------------------------------
September 30, 1997 1996 1995 1994 1993 1992
----------------------------------------------------------------------------------
Excluding Interest on Deposits
- ------------------------------
Income before taxes ..................... $ 3,530 $ 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) ............ 3,394 4,125 4,480 2,896 1,421 916
Amortization of debt discount and
appropriate issuance costs ....... 14 20 12 8 6 3
1/3 of net rent expense ............ 111 126 125 114 96 91
----------------------------------------------------------------------------
Total fixed charges ............. 3,519 4,271 4,617 3,018 1,523 1,010
Preferred dividend requirements ......... 14 22 13 15 16 29
Earnings (excluding capitalized interest) $ 7,050 $ 7,907 $ 7,601 $ 5,570 $ 3,509 $ 2,398
============================================================================
Fixed charges ........................... $ 3,533 $ 4,293 $ 4,630 $ 3,033 $ 1,539 $ 1,039
============================================================================
Ratio of Earnings to Fixed Charges ...... 2.00 1.84 1.64 1.84 2.28 2.31
Including Interest on Deposits
- ------------------------------
Income before taxes ..................... $ 3,530 $ 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) ................. 6,367 7,447 7,761 5,310 3,570 3,688
Amortization of debt discount and
appropriate issuance costs ............ 14 20 12 8 6 3
1/3 of net rent expense ................. 111 126 125 114 96 91
----------------------------------------------------------------------------
Total fixed charges ............. 6,492 7,593 7,898 5,432 3,672 3,782
Preferred dividend requirements ......... 14 22 13 15 16 29
Earnings (excluding capitalized interest) $ 10,023 $ 11,229 $ 10,882 $ 7,984 $ 5,658 $ 5,170
============================================================================
Fixed charges ........................... $ 6,506 $ 7,615 $ 7,911 $ 5,447 $ 3,688 $ 3,811
============================================================================
Ratio of Earnings to Fixed Charges ...... 1.54 1.47 1.38 1.47 1.53 1.36