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) | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||
| Excluding Interest on Deposits |
||||||||||||||||||||
| Income before income taxes |
$ | 31,973 | $ | 24,480 | $ | 20,908 | $ | 15,781 | $ | 13,479 | ||||||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(315 | ) | (151 | ) | (135 | ) | (125 | ) | (6 | ) | ||||||||||
| Fixed charges: |
||||||||||||||||||||
| Interest expense |
29,514 | 18,397 | 9,072 | 6,105 | 6,363 | |||||||||||||||
| 1/3 of net rent expense (1) |
609 | 585 | 512 | 398 | 383 | |||||||||||||||
| Total fixed charges |
30,123 | 18,982 | 9,584 | 6,503 | 6,746 | |||||||||||||||
| Preferred dividend requirements |
33 | 27 | 23 | 6 | 6 | |||||||||||||||
| Fixed charges and preferred dividends |
30,156 | 19,009 | 9,607 | 6,509 | 6,752 | |||||||||||||||
| Earnings |
$ | 61,781 | $ | 43,311 | $ | 30,357 | $ | 22,159 | $ | 20,219 | ||||||||||
| Ratio of earnings to fixed charges |
2.05 | 2.28 | 3.17 | 3.41 | 3.00 | |||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends |
2.05 | 2.28 | 3.16 | 3.40 | 2.99 | |||||||||||||||
| (Dollars in millions) | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||
| Including Interest on Deposits |
||||||||||||||||||||
| Income before income taxes |
$ | 31,973 | $ | 24,480 | $ | 20,908 | $ | 15,781 | $ | 13,479 | ||||||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(315 | ) | (151 | ) | (135 | ) | (125 | ) | (6 | ) | ||||||||||
| Fixed charges: |
||||||||||||||||||||
| Interest expense |
43,994 | 27,889 | 14,993 | 10,667 | 11,632 | |||||||||||||||
| 1/3 of net rent expense (1) |
609 | 585 | 512 | 398 | 383 | |||||||||||||||
| Total fixed charges |
44,603 | 28,474 | 15,505 | 11,065 | 12,015 | |||||||||||||||
| Preferred dividend requirements |
33 | 27 | 23 | 6 | 6 | |||||||||||||||
| Fixed charges and preferred dividends |
44,636 | 28,501 | 15,528 | 11,071 | 12,021 | |||||||||||||||
| Earnings |
$ | 76,261 | $ | 52,803 | $ | 36,278 | $ | 26,721 | $ | 25,488 | ||||||||||
| Ratio of earnings to fixed charges |
1.71 | 1.85 | 2.34 | 2.41 | 2.12 | |||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends |
1.71 | 1.85 | 2.34 | 2.41 | 2.12 | |||||||||||||||
| (1) |
Represents an appropriate interest factor. |