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 31,1997 1996 1995 1994 1993 1992
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Excluding Interest on Deposits
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Income before taxes $1,108 $3,634 $2,991 $2,555 $1,991 $1,396
Equity in undistributed (earnings) losses
of unconsolidated subsidiaries 0 2 (7) (3) (5) (1)
Fixed charges:
Interest expense (including
capitalized interest) 1,075 4,125 4,480 2,896 1,421 916
Amortization of debt discount and
appropriate issuance costs 4 20 12 8 6 3
1/3 of net rent expense 35 126 125 114 96 91
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Total fixed charges 1,114 4,271 4,617 3,018 1,523 1,010
Preferred dividend requirements 7 22 13 15 16 29
Earnings (excluding capitalized interest) $2,222 $7,907 $7,601 $5,570 $3,509 $2,398
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Fixed charges $1,121 $4,293 $4,630 $3,033 $1,539 $1,039
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Ratio of earnings to fixed charges 1.98 1.84 1.64 1.84 2.28 2.31
Including Interest on Deposits
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Income before taxes $1,108 $3,634 $2,991 $2,555 $1,991 $1,396
Equity in undistributed (earnings) losses
of unconsolidated subsidiaries 0 2 (7) (3) (5) (1)
Fixed charges:
Interest expense (including
capitalized interest) 2,073 7,447 7,761 5,310 3,570 3,688
Amortization of debt discount and
appropriate issuance costs 4 20 12 8 6 3
1/3 of net rent expense 35 126 125 114 96 91
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Total fixed charges 2,112 7,593 7,898 5,432 3,672 3,782
Preferred dividend requirements 7 22 13 15 16 29
Earnings (excluding capitalized interest) $3,220 $11,229 $10,882 $7,984 $5,658 $5,170
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Fixed charges $2,119 $7,615 $7,911 $5,447 $3,688 $3,811
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Ratio of Earnings to Fixed Charges 1.52 1.47 1.38 1.47 1.53 1.36