Exhibit 12(a) NationsBank Corporation and Subsidiaries Ratio of Earnings to Fixed Charges (Dollars in Millions)
Six Months Year ended December 31 Ended ------------------------------------------------------------- June 30, 1998 1997 1996 1995 1994 1993 ---------------------------------------------------------------------------- Excluding Interest on Deposits - -------------------------------------------------- Income before taxes .............................. $ 2,971 $ 5,230 $ 4,536 $ 3,810 $ 3,293 $ 2,619 Equity in undistributed (earnings) losses of unconsolidated subsidiaries ................. (2) -- 2 (7) (3) (5) Fixed charges: Interest expense (including capitalized interest) ..................... 2,966 5,060 4,342 4,706 3,056 1,512 Amortization of debt discount and appropriate issuance costs ................ 11 19 20 12 8 6 1/3 of net rent expense ..................... 96 180 157 155 141 129 ---------------------------------------------------------------------------- Total fixed charges ...................... 3,073 5,259 4,519 4,873 3,205 1,647 Earnings (excluding capitalized interest) ........ $ 6,042 $ 10,489 $ 9,057 $ 8,676 $ 6,495 $ 4,261 ============================================================================ Fixed charges .................................... $ 3,073 $ 5,259 $ 4,519 $ 4,873 $ 3,205 $ 1,647 ============================================================================ Ratio of Earnings to Fixed Charges ............... 1.97 1.99 2.00 1.78 2.03 2.59 Including Interest on Deposits - -------------------------------------------------- Income before taxes .............................. $ 2,971 $ 5,230 $ 4,536 $ 3,810 $ 3,293 $ 2,619 Equity in undistributed (earnings) losses of unconsolidated subsidiaries ................. (2) -- 2 (7) (3) (5) Fixed charges: Interest expense (including capitalized interest) ..................... 5,407 9,951 8,588 8,980 6,231 4,450 Amortization of debt discount and appropriate issuance costs ................ 11 19 20 12 8 6 1/3 of net rent expense ..................... 96 180 157 155 141 129 ---------------------------------------------------------------------------- Total fixed charges ...................... 5,514 10,150 8,765 9,147 6,380 4,585 Earnings (excluding capitalized interest) ........ $ 8,483 $ 15,380 $ 13,303 $ 12,950 $ 9,670 $ 7,199 ============================================================================ Fixed charges .................................... $ 5,514 $ 10,150 $ 8,765 $ 9,147 $ 6,380 $ 4,585 ============================================================================ Ratio of Earnings to Fixed Charges ............... 1.54 1.52 1.52 1.42 1.52 1.57
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