Exhibit 12(b) NationsBank Corporation and Subsidiaries Ratio of Earnings to Fixed Charges and Preferred Dividends (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 Preferred dividend requirements .................. 5 17 25 37 43 43 Earnings (excluding capitalized interest) ........ $ 6,042 $ 10,489 $ 9,057 $ 8,676 $ 6,495 $ 4,261 ============================================================================ Fixed charges .................................... $ 3,078 $ 5,276 $ 4,544 $ 4,910 $ 3,248 $ 1,690 ============================================================================ Ratio of Earnings to Fixed Charges ............... 1.96 1.99 1.99 1.77 2.00 2.52 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 Preferred dividend requirements .................. 5 17 25 37 43 43 Earnings (excluding capitalized interest) ........ $ 8,483 $ 15,380 $ 13,303 $ 12,950 $ 9,670 $ 7,199 ============================================================================ Fixed charges .................................... $ 5,519 $ 10,167 $ 8,790 $ 9,184 $ 6,423 $ 4,628 ============================================================================ Ratio of Earnings to Fixed Charges ............... 1.54 1.51 1.51 1.41 1.51 1.56
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