Exhibit 12(b)
NationsBank Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges and Preferred Dividends
(Dollars in Millions)
Nine Months
Ended Year Ended December 31
September 30 ---------------------------------------------------------------
1995 1994 1993 1992 1991 1990
-----------------------------------------------------------------------------
Excluding Interest on Deposits
Income before taxes......................... $ 2,203 $ 2,555 $ 1,991 $ 1,396 $ 109 $ 625
Equity in undistributed earnings
of unconsolidated subsidiaries............ (6) (3) (5) (1) (1) (1)
Fixed charges:
Interest expense (including
capitalized interest)................ 3,362 2,896 1,421 916 1,291 1,852
Amortization of debt discount and
appropriate issuance costs........... 8 8 6 3 2 3
1/3 of net rent expense................ 93 114 96 91 82 66
-----------------------------------------------------------------------------
Total fixed charges................. 3,463 3,018 1,523 1,010 1,375 1,921
Preferred dividend requirements............. 10 15 16 29 31 38
Earnings (excluding capitalized interest)... $ 5,660 $ 5,570 $ 3,509 $ 2,398 $ 1,471 $ 2,533
=============================================================================
Fixed charges............................... $ 3,473 $ 3,033 $ 1,539 $ 1,039 $ 1,406 $ 1,959
=============================================================================
Ratio of Earnings to Fixed Charges.......... 1.63 1.84 2.28 2.31 1.05 1.29
Including Interest on Deposits
Income before taxes......................... $ 2,203 $ 2,555 $ 1,991 $ 1,396 $ 109 $ 625
Equity in undistributed earnings
of unconsolidated subsidiaries............ (6) (3) (5) (1) (1) (1)
Fixed charges:
Interest expense (including
capitalized interest)................ 5,817 5,310 3,570 3,688 5,611 6,683
Amortization of debt discount and
appropriate issuance costs........... 8 8 6 3 2 3
1/3 of net rent expense................ 93 114 96 91 82 66
-----------------------------------------------------------------------------
Total fixed charges................. 5,918 5,432 3,672 3,782 5,695 6,752
Preferred dividend requirements............. 10 15 16 29 31 38
Earnings (excluding capitalized interest)... $ 8,115 $ 7,984 $ 5,658 $ 5,170 $ 5,791 $ 7,365
=============================================================================
Fixed charges............................... $ 5,928 $ 5,447 $ 3,688 $ 3,811 $ 5,726 $ 6,790
=============================================================================
Ratio of Earnings to Fixed Charges.......... 1.37 1.47 1.53 1.36 1.01 1.08
45