Bank of America (BAC) 10-Q2002 Q3 Quarterly report

Filed: 8 Nov 02, 12:00am

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Bad

New words: advance, afforded, aforementioned, airline, alleviate, American, amusement, ARB, arrangement, assumption, automatically, awarded, BANA, basic, beverage, bill, boom, Brazilian, cable, captioned, cardholder, carryover, caution, Clerk, comparison, comply, compounded, contingent, counteract, debate, deliberation, deployment, depressed, disclosure, document, draft, EITF, elevated, emerging, Enron, evidenced, explain, explanation, extrapolated, fact, food, foreseeable, format, framework, frequently, function, GAAP, governmental, Hong, inGlobal, instructed, insufficient, introduced, inverse, issuer, Kong, layer, letter, linear, magnify, manner, meaningful, met, mining, monthly, municipal, Nineteen, nondeductible, nonrecurring, Nonsubstantive, online, ourConsumer, overlimit, overview, Pension, permanent, premium, promotional, ratably, reality, receivership, redesignated, refine, reimburse, released, remeasured, resource, revaluation, rule, ruled, SEC, seller, Servicesgroup, shortly, social, SPE, stance, supplemental, tabular, textual, theAsset, theConsumer, toCorporate, treated, Twenty, uncertain, uncertainty, undertaken, unexercised, unrelated, variation, waiver, warrant, withinBanking, withinConsumer

Removed: charged, distinct, Europe, evaluated, excluded, extreme, falling, flattening, histogram, linking, location, proceeding, separate, structured, structuring, Thirteen

Search this filing

Filing tables

Export all tables to Excel

Filing exhibits

BAC similar filings

Filing view

Default size S M L
Default font Times Arial

External links

Share this filing

Exhibit 12

Bank of America Corporation and Subsidiaries

Ratio of Earnings to Fixed Charges and Preferred Dividends

(Dollars in millions)	Nine Months Ended September 30, 2002			Year Ended December 31
(Dollars in millions)	Nine Months Ended September 30, 2002			2001			2000			1999			1998		1997
*Excluding Interest on Deposits*
Income before income taxes	$	9,880		$	10,117		$	11,788		$	12,215		$	8,048	$	10,556
Less: Equity in undistributed earnings of unconsolidated subsidiaries		(4	)		(6	)		(27	)		(167	)		162		(49	)
Fixed charges:
Interest expense		4,349			9,117			13,806			10,084			9,479		8,219
1/3 of net rent expense⁽¹⁾		290			379			368			342			335		302

Total fixed charges		4,639			9,496			14,174			10,426			9,814		8,521
Preferred dividend requirements		5			7			9			10			40		183

Fixed charges and preferred dividends		4,644			9,503			14,183			10,436			9,854		8,704

Earnings	$	14,515		$	19,607		$	25,935		$	22,474		$	18,024	$	19,028

Ratio of earnings to fixed charges		3.13			2.06			1.83			2.16			1.84		2.23

Ratio of earnings to fixed charges and preferred dividends		3.13			2.06			1.83			2.15			1.83		2.19

(Dollars in millions)	Nine Months Ended September 30, 2002			Year Ended December 31
(Dollars in millions)	Nine Months Ended September 30, 2002			2001			2000			1999			1998		1997
*Including Interest on Deposits*
Income before income taxes	$	9,880		$	10,117		$	11,788		$	12,215		$	8,048	$	10,556
Less: Equity in undistributed earnings of unconsolidated subsidiaries		(4	)		(6	)		(27	)		(167	)		162		(49	)
Fixed charges:
Interest expense		8,491			18,003			24,816			19,086			20,290		18,903
1/3 of net rent expense⁽¹⁾		290			379			368			342			335		302

Total fixed charges		8,781			18,382			25,184			19,428			20,625		19,205
Preferred dividend requirements		5			7			9			10			40		183

Fixed charges and preferred dividends		8,786			18,389			25,193			19,438			20,665		19,388

Earnings	$	18,657		$	28,493		$	36,945		$	31,476		$	28,835	$	29,712

Ratio of earnings to fixed charges		2.12			1.55			1.47			1.62			1.40		1.55

Ratio of earnings to fixed charges and preferred dividends		2.12			1.55			1.47			1.62			1.40		1.53

(1)

Represents an appropriate interest factor.

We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our Cookie Policy for more information.