| 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) | Six Months Ended June 30, 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||
| Excluding Interest on Deposits | |||||||||||||||||||||||
| Income before income taxes | $ | 14,942 | $ | 25,153 | $ | 22,070 | $ | 7,963 | $ | 14,733 | $ | 2,535 | |||||||||||
| Equity in undistributed earnings (loss) of unconsolidated subsidiaries | (88 | ) | (262 | ) | (152 | ) | (222 | ) | (66 | ) | 212 | ||||||||||||
| Fixed charges: | |||||||||||||||||||||||
| Interest expense | 5,184 | 8,946 | 9,688 | 9,855 | 11,359 | 14,754 | |||||||||||||||||
1/3 of net rent expense (1) | 420 | 883 | 945 | 1,023 | 1,091 | 1,092 | |||||||||||||||||
| Total fixed charges | 5,604 | 9,829 | 10,633 | 10,878 | 12,450 | 15,846 | |||||||||||||||||
| Preferred dividend requirements | 1,274 | 2,363 | 2,067 | 1,506 | 1,746 | 968 | |||||||||||||||||
| Fixed charges and preferred dividends | 6,878 | 12,192 | 12,700 | 12,384 | 14,196 | 16,814 | |||||||||||||||||
| Earnings | $ | 20,458 | $ | 34,720 | $ | 32,551 | $ | 18,619 | $ | 27,117 | $ | 18,593 | |||||||||||
| Ratio of earnings to fixed charges | 3.65 | 3.53 | 3.06 | 1.71 | 2.18 | 1.17 | |||||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends | 2.97 | 2.85 | 2.56 | 1.50 | 1.91 | 1.11 | |||||||||||||||||
| Year Ended December 31 | |||||||||||||||||||||||
| (Dollars in millions) | Six Months Ended June 30, 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||
| Including Interest on Deposits | |||||||||||||||||||||||
| Income before income taxes | $ | 14,942 | $ | 25,153 | $ | 22,070 | $ | 7,963 | $ | 14,733 | $ | 2,535 | |||||||||||
| Equity in undistributed earnings (loss) of unconsolidated subsidiaries | (88 | ) | (262 | ) | (152 | ) | (222 | ) | (66 | ) | 212 | ||||||||||||
| Fixed charges: | |||||||||||||||||||||||
| Interest expense | 5,812 | 9,961 | 10,549 | 10,935 | 12,755 | 16,744 | |||||||||||||||||
1/3 of net rent expense (1) | 420 | 883 | 945 | 1,023 | 1,091 | 1,092 | |||||||||||||||||
| Total fixed charges | 6,232 | 10,844 | 11,494 | 11,958 | 13,846 | 17,836 | |||||||||||||||||
| Preferred dividend requirements | 1,274 | 2,363 | 2,067 | 1,506 | 1,746 | 968 | |||||||||||||||||
| Fixed charges and preferred dividends | 7,506 | 13,207 | 13,561 | 13,464 | 15,592 | 18,804 | |||||||||||||||||
| Earnings | $ | 21,086 | $ | 35,735 | $ | 33,412 | $ | 19,699 | $ | 28,513 | $ | 20,583 | |||||||||||
| Ratio of earnings to fixed charges | 3.38 | 3.30 | 2.91 | 1.65 | 2.06 | 1.15 | |||||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends | 2.81 | 2.71 | 2.46 | 1.46 | 1.83 | 1.09 | |||||||||||||||||
(1) | Represents an appropriate interest factor. |