| Bank of America Corporation and Subsidiaries | Exhibit 12 | |||||||||||
| Ratio of Earnings to Fixed Charges | ||||||||||||
| Ratio of Earnings to Fixed Charges and Preferred Dividends | ||||||||||||
| (Dollars in millions) | Three Months Ended
March 31, 2008 |
Year Ended December 31 | ||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||
| Excluding Interest on Deposits |
||||||||||||
| Income before income taxes |
$1,798 | $20,924 | $31,973 | $24,480 | $20,908 | $15,781 | ||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(106) | (95) | (315) | (151) | (135) | (125) | ||||||
| Fixed charges: |
||||||||||||
| Interest expense |
7,280 | 34,778 | 29,514 | 18,397 | 9,072 | 6,105 | ||||||
| 1/3 of net rent expense (1) |
187 | 669 | 609 | 585 | 512 | 398 | ||||||
| Total fixed charges |
7,467 | 35,447 | 30,123 | 18,982 | 9,584 | 6,503 | ||||||
| Preferred dividend requirements |
282 | 254 | 33 | 27 | 23 | 6 | ||||||
| Fixed charges and preferred dividends |
7,749 | 35,701 | 30,156 | 19,009 | 9,607 | 6,509 | ||||||
| Earnings |
$9,159 | $56,276 | $61,781 | $43,311 | $30,357 | $22,159 | ||||||
| Ratio of earnings to fixed charges |
1.23 | 1.59 | 2.05 | 2.28 | 3.17 | 3.41 | ||||||
| Ratio of earnings to fixed charges and preferred dividends |
1.18 | 1.58 | 2.05 | 2.28 | 3.16 | 3.40 | ||||||
| Three Months Ended
March 31, 2008 |
Year Ended December 31 | |||||||||||
| (Dollars in millions) | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||
| Including Interest on Deposits |
||||||||||||
| Income before income taxes |
$1,798 | $20,924 | $31,973 | $24,480 | $20,908 | $15,781 | ||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(106) | (95) | (315) | (151) | (135) | (125) | ||||||
| Fixed charges: |
||||||||||||
| Interest expense |
11,868 | 52,871 | 43,994 | 27,889 | 14,993 | 10,667 | ||||||
| 1/3 of net rent expense (1) |
187 | 669 | 609 | 585 | 512 | 398 | ||||||
| Total fixed charges |
12,055 | 53,540 | 44,603 | 28,474 | 15,505 | 11,065 | ||||||
| Preferred dividend requirements |
282 | 254 | 33 | 27 | 23 | 6 | ||||||
| Fixed charges and preferred dividends |
12,337 | 53,794 | 44,636 | 28,501 | 15,528 | 11,071 | ||||||
| Earnings |
$13,747 | $74,369 | $76,261 | $52,803 | $36,278 | $26,721 | ||||||
| Ratio of earnings to fixed charges |
1.14 | 1.39 | 1.71 | 1.85 | 2.34 | 2.41 | ||||||
| Ratio of earnings to fixed charges and preferred dividends |
1.11 | 1.38 | 1.71 | 1.85 | 2.34 | 2.41 | ||||||
(1) Represents an appropriate interest factor.