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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Bad
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New words:
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YourkeandKnighten
Removed:
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Exhibit 12
Bank of America Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
Ratio of Earnings to Fixed Charges and Preferred Dividends
Ratio of Earnings to Fixed Charges
Ratio of Earnings to Fixed Charges and Preferred Dividends
Year Ended December 31 | ||||||||||||||||||||
(Dollars in millions) | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||
Excluding Interest on Deposits | ||||||||||||||||||||
Income before income taxes | $ | (1,323 | ) | $ | 4,360 | $ | 4,428 | $ | 20,924 | $ | 31,973 | |||||||||
Equity in undistributed earnings of unconsolidated subsidiaries | 1,285 | (1,833 | ) | (144 | ) | (95 | ) | (315 | ) | |||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | 19,977 | 23,000 | 25,074 | 34,778 | 29,514 | |||||||||||||||
1/3 of net rent expense(1) | 1,099 | 1,110 | 791 | 669 | 609 | |||||||||||||||
Total fixed charges | 21,076 | 24,110 | 25,865 | 35,447 | 30,123 | |||||||||||||||
Preferred dividend requirements (2) | n/m | 5,921 | 1,461 | 254 | 33 | |||||||||||||||
Fixed charges and preferred dividends | 21,076 | 30,031 | 27,326 | 35,701 | 30,156 | |||||||||||||||
Earnings | $ | 21,038 | $ | 26,637 | $ | 30,149 | $ | 56,276 | $ | 61,781 | ||||||||||
Ratio of earnings to fixed charges | 1.00 | 1.10 | 1.17 | 1.59 | 2.05 | |||||||||||||||
Ratio of earnings to fixed charges and preferred dividends(2, 3) | n/m | — | 1.10 | 1.58 | 2.05 | |||||||||||||||
Year Ended December 31 | ||||||||||||||||||||
(Dollars in millions) | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||
Including Interest on Deposits | ||||||||||||||||||||
Income before income taxes | $ | (1,323 | ) | $ | 4,360 | $ | 4,428 | $ | 20,924 | $ | 31,973 | |||||||||
Equity in undistributed earnings of unconsolidated subsidiaries | 1,285 | (1,833 | ) | (144 | ) | (95 | ) | (315 | ) | |||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | 23,974 | 30,807 | 40,324 | 52,871 | 43,994 | |||||||||||||||
1/3 of net rent expense(1) | 1,099 | 1,110 | 791 | 669 | 609 | |||||||||||||||
Total fixed charges | 25,073 | 31,917 | 41,115 | 53,540 | 44,603 | |||||||||||||||
Preferred dividend requirements (2) | n/m | 5,921 | 1,461 | 254 | 33 | |||||||||||||||
Fixed charges and preferred dividends | 25,073 | 37,838 | 42,576 | 53,794 | 44,636 | |||||||||||||||
Earnings | $ | 25,035 | $ | 34,444 | $ | 45,399 | $ | 74,369 | $ | 76,261 | ||||||||||
Ratio of earnings to fixed charges | 1.00 | 1.08 | 1.10 | 1.39 | 1.71 | |||||||||||||||
Ratio of earnings to fixed charges and preferred dividends(2, 3) | n/m | — | 1.07 | 1.38 | 1.71 | |||||||||||||||
(1) | Represents an appropriate interest factor. | |
(2) | Reflects the impact of the $12.4 billion goodwill impairment charge during 2010 which resulted in a negative preferred dividend requirement. | |
(3) | The earnings for 2009 were inadequate to cover fixed charges and preferred stock dividends. The earnings deficiency is a result of the accelerated accretion of $4.0 billion recorded as a result of the repurchase of TARP Preferred Stock. The coverage deficiency for fixed charges and preferred dividends was $3.4 billion. | |
n/m = not meaningful |