NationsBank Corporation and Subsidiaries Exhibit 12(b)
Ratio of Earnings to Fixed Charges and Preferred Dividends
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(Dollars in Millions)
Three Months -------------------Year Ended December 31----------------
Ended
March 31, 1996 1995 1994 1993 1992 1991
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Excluding Interest on Deposits
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Income before taxes........................... $ 789 $ 2,991 $ 2,555 $ 1,991 $ 1,396 $ 109
Equity in undistributed earnings
of unconsolidated subsidiaries.............. (2) (7) (3) (5) (1) (1)
Fixed charges:
Interest expense (including
capitalized interest)....................... 1,153 4,480 2,896 1,421 916 1,291
Amortization of debt discount and
appropriate issuance costs.................. 5 12 8 6 3 2
1/3 of net rent expense....................... 31 125 114 96 91 82
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Total fixed charges...................... 1,189 4,617 3,018 1,523 1,010 1,375
Preferred dividend requirements............... 6 13 15 16 29 31
Earnings (excluding capitalized interest)..... $ 1,976 $ 7,601 $ 5,570 $ 3,509 $ 2,398 $ 1,471
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Fixed charges................................. $ 1,195 $ 4,630 $ 3,033 $ 1,539 $ 1,039 $ 1,406
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Ratio of Earnings to Fixed Charges............ 1.65 1.64 1.84 2.28 2.31 1.05
Including Interest on Deposits
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Income before taxes........................... $ 789 $ 2,991 $ 2,555 $ 1,991 $ 1,396 $ 109
Equity in undistributed earnings
of unconsolidated subsidiaries.............. (2) (7) (3) (5) (1) (1)
Fixed charges:
Interest expense (including
capitalized interest)....................... 2,011 7,761 5,310 3,570 3,688 5,611
Amortization of debt discount and
appropriate issuance costs.................. 5 12 8 6 3 2
1/3 of net rent expense....................... 31 125 114 96 91 82
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Total fixed charges................... 2,047 7,898 5,432 3,672 3,782 5,695
Preferred dividend requirements............... 6 13 15 16 29 31
Earnings (excluding capitalized interest)..... $ 2,834 $ 10,882 $ 7,984 $ 5,658 $ 5,170 $ 5,791
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Fixed charges................................. $ 2,053 $ 7,911 $ 5,447 $ 3,688 $ 3,811 $ 5,726
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Ratio of Earnings to Fixed Charges............ 1.38 1.38 1.47 1.53 1.36 1.01
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