| 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) |
Nine Months Ended September 30, 2009 |
Year Ended December 31 | ||||||||||||||||||||
| 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||
| Excluding Interest on Deposits |
||||||||||||||||||||||
| Income before income taxes |
$ | 5,779 | $ | 4,428 | $ | 20,924 | $ | 31,973 | $ | 24,480 | $ | 20,908 | ||||||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(613 | ) | 144 | (95 | ) | (315 | ) | (151 | ) | (135) | ||||||||||||
| Fixed charges: |
||||||||||||||||||||||
| Interest expense |
18,386 | 25,074 | 34,778 | 29,514 | 18,397 | 9,072 | ||||||||||||||||
| 1/3 of net rent expense (1) |
817 | 791 | 669 | 609 | 585 | 512 | ||||||||||||||||
| Total fixed charges |
19,203 | 25,865 | 35,447 | 30,123 | 18,982 | 9,584 | ||||||||||||||||
| Preferred dividend requirements |
2,943 | 1,461 | 254 | 33 | 27 | 23 | ||||||||||||||||
| Fixed charges and preferred dividends |
22,146 | 27,326 | 35,701 | 30,156 | 19,009 | 9,607 | ||||||||||||||||
| Earnings |
$ | 24,369 | $ | 30,437 | $ | 56,276 | $ | 61,781 | $ | 43,311 | $ | 30,357 | ||||||||||
| Ratio of earnings to fixed charges |
1.27 | 1.18 | 1.59 | 2.05 | 2.28 | 3.17 | ||||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends |
1.10 | 1.11 | 1.58 | 2.05 | 2.28 | 3.16 | ||||||||||||||||
| (Dollars in millions) |
Nine Months Ended September 30, 2009 |
Year Ended December 31 | ||||||||||||||||||||
| 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||
| Including Interest on Deposits |
||||||||||||||||||||||
| Income before income taxes |
$ | 5,779 | $ | 4,428 | $ | 20,924 | $ | 31,973 | $ | 24,480 | $ | 20,908 | ||||||||||
| Equity in undistributed earnings of unconsolidated subsidiaries |
(613 | ) | 144 | (95 | ) | (315 | ) | (151 | ) | (135) | ||||||||||||
| Fixed charges: |
||||||||||||||||||||||
| Interest expense |
24,721 | 40,324 | 52,871 | 43,994 | 27,889 | 14,993 | ||||||||||||||||
| 1/3 of net rent expense (1) |
817 | 791 | 669 | 609 | 585 | 512 | ||||||||||||||||
| Total fixed charges |
25,538 | 41,115 | 53,540 | 44,603 | 28,474 | 15,505 | ||||||||||||||||
| Preferred dividend requirements |
2,943 | 1,461 | 254 | 33 | 27 | 23 | ||||||||||||||||
| Fixed charges and preferred dividends |
28,481 | 42,576 | 53,794 | 44,636 | 28,501 | 15,528 | ||||||||||||||||
| Earnings |
$ | 30,704 | $ | 45,687 | $ | 74,369 | $ | 76,261 | $ | 52,803 | $ | 36,278 | ||||||||||
| Ratio of earnings to fixed charges |
1.20 | 1.11 | 1.39 | 1.71 | 1.85 | 2.34 | ||||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends |
1.08 | 1.07 | 1.38 | 1.71 | 1.85 | 2.34 | ||||||||||||||||
| (1) | Represents an appropriate interest factor. |
223