Exhibit 12
Bank of America Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
Ratio of Earnings to Fixed Charges and Preferred Dividends
| (Dollars in millions) |
Three Months Ended March 31, 2005 |
Year Ended December 31 |
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| 2004 |
2003 |
2002 |
2001 |
2000 |
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| Excluding Interest on Deposits | ||||||||||||||||||||||||
| Income before income taxes |
$ | 7,044 | $ | 21,221 | $ | 15,861 | $ | 12,991 | $ | 10,117 | $ | 11,788 | ||||||||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(20 | ) | (135 | ) | (125 | ) | (6 | ) | (6 | ) | (27 | ) | ||||||||||||
| Fixed charges: |
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| Interest expense |
3,237 | 8,155 | 5,271 | 5,804 | 9,117 | 13,806 | ||||||||||||||||||
| 1/3 of net rent expense (1) |
143 | 512 | 398 | 383 | 379 | 368 | ||||||||||||||||||
| Total fixed charges |
3,380 | 8,667 | 5,669 | 6,187 | 9,496 | 14,174 | ||||||||||||||||||
| Preferred dividend requirements |
7 | 23 | 6 | 6 | 7 | 9 | ||||||||||||||||||
| Fixed charges and preferred dividends |
3,387 | 8,690 | 5,675 | 6,193 | 9,503 | 14,183 | ||||||||||||||||||
| Earnings |
$ | 10,404 | $ | 29,753 | $ | 21,405 | $ | 19,172 | $ | 19,607 | $ | 25,935 | ||||||||||||
| Ratio of earnings to fixed charges |
3.08 | 3.43 | 3.78 | 3.10 | 2.06 | 1.83 | ||||||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends |
3.07 | 3.42 | 3.77 | 3.10 | 2.06 | 1.83 | ||||||||||||||||||
| (Dollars in millions) |
Three Months Ended March 31, 2005 |
Year Ended December 31 |
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| 2004 |
2003 |
2002 |
2001 |
2000 |
||||||||||||||||||||
| Including Interest on Deposits | ||||||||||||||||||||||||
| Income before income taxes |
$ | 7,044 | $ | 21,221 | $ | 15,861 | $ | 12,991 | $ | 10,117 | $ | 11,788 | ||||||||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(20 | ) | (135 | ) | (125 | ) | (6 | ) | (6 | ) | (27 | ) | ||||||||||||
| Fixed charges: |
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| Interest expense |
5,280 | 14,430 | 10,179 | 11,238 | 18,003 | 24,816 | ||||||||||||||||||
| 1/3 of net rent expense (1) |
143 | 512 | 398 | 383 | 379 | 368 | ||||||||||||||||||
| Total fixed charges |
5,423 | 14,942 | 10,577 | 11,621 | 18,382 | 25,184 | ||||||||||||||||||
| Preferred dividend requirements |
7 | 23 | 6 | 6 | 7 | 9 | ||||||||||||||||||
| Fixed charges and preferred dividends |
5,430 | 14,965 | 10,583 | 11,627 | 18,389 | 25,193 | ||||||||||||||||||
| Earnings |
$ | 12,447 | $ | 36,028 | $ | 26,313 | $ | 24,606 | $ | 28,493 | $ | 36,945 | ||||||||||||
| Ratio of earnings to fixed charges |
2.30 | 2.41 | 2.49 | 2.12 | 1.55 | 1.47 | ||||||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends |
2.29 | 2.41 | 2.49 | 2.12 | 1.55 | 1.47 | ||||||||||||||||||
| (1) | Represents an appropriate interest factor. |
86