| Bank of America Corporation and Subsidiaries Ratio of Earnings to Fixed Charges Ratio of Earnings to Fixed Charges and Preferred Dividends |
Exhibit 12 |
| Six Months Ended | Year Ended December 31 | |||||||||||
| (Dollars in millions) | June 30, 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | ||||||
| Excluding Interest on Deposits |
||||||||||||
| Income before income taxes |
$16,483 | $31,973 | $24,480 | $20,908 | $15,781 | $13,479 | ||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(149) | (315) | (151) | (135) | (125) | (6) | ||||||
| Fixed charges: |
||||||||||||
| Interest expense |
16,843 | 29,514 | 18,397 | 9,072 | 6,105 | 6,363 | ||||||
| 1/3 of net rent expense (1) |
324 | 609 | 585 | 512 | 398 | 383 | ||||||
| Total fixed charges |
17,167 | 30,123 | 18,982 | 9,584 | 6,503 | 6,746 | ||||||
| Preferred dividend requirements |
129 | 33 | 27 | 23 | 6 | 6 | ||||||
| Fixed charges and preferred dividends |
17,296 | 30,156 | 19,009 | 9,607 | 6,509 | 6,752 | ||||||
| Earnings |
$33,501 | $61,781 | $43,311 | $30,357 | $22,159 | $20,219 | ||||||
| Ratio of earnings to fixed charges |
1.95 | 2.05 | 2.28 | 3.17 | 3.41 | 3.00 | ||||||
| Ratio of earnings to fixed charges and preferred dividends |
1.94 | 2.05 | 2.28 | 3.16 | 3.40 | 2.99 | ||||||
| Six Months Ended | Year Ended December 31 | |||||||||||
| (Dollars in millions) |
June 30, 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | ||||||
| Including Interest on Deposits |
||||||||||||
| Income before income taxes |
$16,483 | $31,973 | $24,480 | $20,908 | $15,781 | $13,479 | ||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(149) | (315) | (151) | (135) | (125) | (6) | ||||||
| Fixed charges: |
||||||||||||
| Interest expense |
25,138 | 43,994 | 27,889 | 14,993 | 10,667 | 11,632 | ||||||
| 1/3 of net rent expense (1) |
324 | 609 | 585 | 512 | 398 | 383 | ||||||
| Total fixed charges |
25,462 | 44,603 | 28,474 | 15,505 | 11,065 | 12,015 | ||||||
| Preferred dividend requirements |
129 | 33 | 27 | 23 | 6 | 6 | ||||||
| Fixed charges and preferred dividends |
25,591 | 44,636 | 28,501 | 15,528 | 11,071 | 12,021 | ||||||
| Earnings |
$41,796 | $76,261 | $52,803 | $36,278 | $26,721 | $25,488 | ||||||
| Ratio of earnings to fixed charges |
1.64 | 1.71 | 1.85 | 2.34 | 2.41 | 2.12 | ||||||
| Ratio of earnings to fixed charges and preferred dividends |
1.63 | 1.71 | 1.85 | 2.34 | 2.41 | 2.12 | ||||||
(1) Represents an appropriate interest factor.
124