Exhibit 12
Bank of America Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
Ratio of Earnings to Fixed Charges and Preferred Dividends
| Year Ended December 31 |
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| (Dollars in millions) | 2005 |
2004 |
2003 |
2002 |
2001 |
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| Excluding Interest on Deposits |
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| Income before income taxes |
$ | 24,480 | $ | 20,908 | $ | 15,781 | $ | 13,479 | $ | 11,246 | ||||||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(151 | ) | (135 | ) | (125 | ) | (6 | ) | (6 | ) | ||||||||||
| Fixed charges: |
||||||||||||||||||||
| Interest expense |
18,397 | 9,072 | 6,105 | 6,363 | 9,360 | |||||||||||||||
| 1/3 of net rent expense (1) |
585 | 512 | 398 | 383 | 379 | |||||||||||||||
| Total fixed charges |
18,982 | 9,584 | 6,503 | 6,746 | 9,739 | |||||||||||||||
| Preferred dividend requirements |
27 | 23 | 6 | 6 | 7 | |||||||||||||||
| Fixed charges and preferred dividends |
19,009 | 9,607 | 6,509 | 6,752 | 9,746 | |||||||||||||||
| Earnings |
$ | 43,311 | $ | 30,357 | $ | 22,159 | $ | 20,219 | $ | 20,979 | ||||||||||
| Ratio of earnings to fixed charges |
2.28 | 3.17 | 3.41 | 3.00 | 2.15 | |||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends |
2.28 | 3.16 | 3.40 | 2.99 | 2.15 | |||||||||||||||
| Year Ended December 31 |
||||||||||||||||||||
| (Dollars in millions) | 2005 |
2004 |
2003 |
2002 |
2001 |
|||||||||||||||
| Including Interest on Deposits |
||||||||||||||||||||
| Income before income taxes |
$ | 24,480 | $ | 20,908 | $ | 15,781 | $ | 13,479 | $ | 11,246 | ||||||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(151 | ) | (135 | ) | (125 | ) | (6 | ) | (6 | ) | ||||||||||
| Fixed charges: |
||||||||||||||||||||
| Interest expense |
27,889 | 14,993 | 10,667 | 11,632 | 18,206 | |||||||||||||||
| 1/3 of net rent expense (1) |
585 | 512 | 398 | 383 | 379 | |||||||||||||||
| Total fixed charges |
28,474 | 15,505 | 11,065 | 12,015 | 18,585 | |||||||||||||||
| Preferred dividend requirements |
27 | 23 | 6 | 6 | 7 | |||||||||||||||
| Fixed charges and preferred dividends |
28,501 | 15,528 | 11,071 | 12,021 | 18,592 | |||||||||||||||
| Earnings |
$ | 52,803 | $ | 36,278 | $ | 26,721 | $ | 25,488 | $ | 29,825 | ||||||||||
| Ratio of earnings to fixed charges |
1.85 | 2.34 | 2.41 | 2.12 | 1.60 | |||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends |
1.85 | 2.34 | 2.41 | 2.12 | 1.60 | |||||||||||||||
| (1) | Represents an appropriate interest factor. |