Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

April 30, 2018

Documents



 
 
 
 
 
 
 
 
 
 
 
 

Bank of America Corporation and Subsidiaries
 
 
 
 
 
 
 
 

Exhibit 12
 

Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 

Ratio of Earnings to Fixed Charges and Preferred Dividends
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31
(Dollars in millions)
Three Months Ended March 31, 2018
 
2017
 
2016
 
2015
 
2014
 
2013
Excluding Interest on Deposits
 

 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
8,394

 
$
29,213

 
$
25,021

 
$
22,187

 
$
7,963

 
$
14,733

Equity in undistributed earnings (loss) of unconsolidated subsidiaries
(17
)
 
(245
)
 
(262
)
 
(152
)
 
(222
)
 
(66
)
Fixed charges:
 

 
 
 
 
 
 
 
 
 
 
Interest expense
3,231

 
10,981

 
8,946

 
9,688

 
9,855

 
11,359

   1/3 of net rent expense (1)
210

 
831

 
883

 
945

 
1,023

 
1,091

Total fixed charges
3,441

 
11,812

 
9,829

 
10,633

 
10,878

 
12,450

Preferred dividend requirements
519

 
2,528

 
2,361

 
2,068

 
1,506

 
1,746

      Fixed charges and preferred dividends
3,960

 
14,340

 
12,190

 
12,701

 
12,384

 
14,196

      Earnings
$
11,818

 
$
40,780

 
$
34,588

 
$
32,668

 
$
18,619

 
$
27,117

Ratio of earnings to fixed charges
3.43

 
3.45

 
3.52

 
3.07

 
1.71

 
2.18

Ratio of earnings to fixed charges and preferred dividends
2.98

 
2.84

 
2.84

 
2.57

 
1.50

 
1.91

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31
(Dollars in millions)
Three Months Ended March 31, 2018
 
2017
 
2016
 
2015
 
2014
 
2013
Including Interest on Deposits
 

 
 
 
 
 
 
 
 
 
 
Income before income taxes
$
8,394

 
$
29,213

 
$
25,021

 
$
22,187

 
$
7,963

 
$
14,733

Equity in undistributed earnings (loss) of unconsolidated subsidiaries
(17
)
 
(245
)
 
(262
)
 
(152
)
 
(222
)
 
(66
)
Fixed charges:
 

 
 
 
 
 
 
 
 
 
 
Interest expense
3,991

 
12,912

 
9,961

 
10,549

 
10,935

 
12,755

   1/3 of net rent expense (1)
210

 
831

 
883

 
945

 
1,023

 
1,091

Total fixed charges
4,201

 
13,743

 
10,844

 
11,494

 
11,958

 
13,846

Preferred dividend requirements
519

 
2,528

 
2,361

 
2,068

 
1,506

 
1,746

      Fixed charges and preferred dividends
4,720

 
16,271

 
13,205

 
13,562

 
13,464

 
15,592

      Earnings
$
12,578

 
$
42,711

 
$
35,603

 
$
33,529

 
$
19,699

 
$
28,513

Ratio of earnings to fixed charges
2.99

 
3.11

 
3.28

 
2.92

 
1.65

 
2.06

Ratio of earnings to fixed charges and preferred dividends
2.66

 
2.62

 
2.70

 
2.47

 
1.46

 
1.83

(1) 
Represents an appropriate interest factor.