NationsBank Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges and Preferred Dividends Exhibit 12(b)
(Dollars in Millions)
Year Ended December 31
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1997 1996 1995 1994 1993
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Excluding Interest on Deposits
Income before taxes ..................................... $ 4,796 $ 3,634 $2,991 $2,555 $1,991
Equity in undistributed losses (earnings)
of unconsolidated subsidiaries ........................ -- 2 (7) (3) (5)
Fixed charges:
Interest expense (including capitalized interest) ..... 4,707 4,125 4,480 2,896 1,421
Amortization of debt discount and
appropriate issuance costs ........................... 19 20 12 8 6
1/3 of net rent expense ............................... 150 126 125 114 96
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Total fixed charges .................................. 4,876 4,271 4,617 3,018 1,523
Preferred dividend requirements ......................... 17 22 13 15 16
Earnings (excluding capitalized interest) ............... $ 9,672 $ 7,907 $7,601 $5,570 $3,509
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Fixed charges ........................................... $ 4,893 $ 4,293 $4,630 $3,033 $1,539
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Ratio of Earnings to Fixed Charges ...................... 1.98 1.84 1.64 1.84 2.28
Including Interest on Deposits
Income before taxes ..................................... $ 4,796 $ 3,634 $2,991 $2,555 $1,991
Equity in undistributed losses (earnings)
of unconsolidated subsidiaries ........................ -- 2 (7) (3) (5)
Fixed charges:
Interest expense (including capitalized interest) ..... 8,662 7,447 7,761 5,310 3,570
Amortization of debt discount and
appropriate issuance costs ........................... 19 20 12 8 6
1/3 of net rent expense ............................... 150 126 125 114 96
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Total fixed charges ........................... ...... 8,831 7,593 7,898 5,432 3,672
Preferred dividend requirements ......................... 17 22 13 15 16
Earnings (excluding capitalized interest) ............... $13,627 $11,229 $10,882 $7,984 $5,658
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Fixed charges ........................................... $ 8,848 $ 7,615 $7,911 $5,447 $3,688
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Ratio of Earnings to Fixed Charges ...................... 1.54 1.47 1.38 1.47 1.53