BankAmerica Corporation and Subsidiaries Ratio of Earnings to Fixed Charges and Preferred Dividends Exhibit 12(b) (Dollars in Millions) Year Ended December 31 ---------------------------------------------------------------- 1998 1997 1996 1995 1994 ---------- ---- ----- ---- ---- Excluding Interest on Deposits Income before taxes .................................... $ 8,048 $10,556 $9,311 $ 8,377 $ 7,010 Less: Equity in undistributed losses (earnings) of unconsolidated subsidiaries ........................ 162 (49) (7) (19) (55) Fixed charges: Interest expense (including capitalized interest) ..... 9,479 8,219 7,082 6,354 4,572 1/3 of net rent expense ............................... 335 302 282 275 250 ---------- ------- ------- ------- ------- Total fixed charges .................................. 9,814 8,521 7,364 6,629 4,822 Preferred dividend requirements ........................ 40 183 332 426 467 ---------- ------- ------- ------- ------- Earnings (excluding capitalized interest) .............. $ 18,024 $19,026 $16,668 $14,987 $11,774 ========== ======= ======= ======= ======= Fixed charges and preferred dividends .................. $ 9,854 $ 8,704 $ 7,696 $ 7,055 $ 5,289 ========== ======= ======= ======= ======= Ratio of earnings to fixed charges and preferred dividends ............................................. 1.83 2.19 2.17 2.12 2.23 ========== ======== ======== ======== ======== Including Interest on Deposits Income before taxes .................................... $ 8,048 $10,556 $9,311 $ 8,377 $ 7,010 Less: Equity in undistributed losses (earnings) of unconsolidated subsidiaries ........................ 162 (49) (7) (19) (55) Fixed charges: Interest expense (including capitalized interest) ..... 20,290 18,903 16,682 16,369 11,083 1/3 of net rent expense ............................... 335 302 282 275 250 ---------- ------- ------- ------- ------- Total fixed charges .................................. 20,625 19,205 16,964 16,644 11,333 Preferred dividend requirements ........................ 40 183 332 426 467 ---------- ------- ------- ------- ------- Earnings (excluding capitalized interest) .............. $ 28,835 $29,710 $26,268 $25,002 $18,285 ========== ======= ======= ======= ======= Fixed charges and preferred dividends .................. $ 20,665 $19,388 $17,296 $17,070 $11,800 ========== ======= ======= ======= ======= Ratio of earnings to fixed charges and preferred dividends ............................................. 1.40 1.53 1.52 1.46 1.55 ========== ======= ======= ======= =======