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