Bank of America (BAC) 10-Q2005 Q2 Quarterly report

Filed: 8 Aug 05, 12:00am

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Bank of America Corporation and Subsidiaries Ratio of Earnings to Fixed Charges Ratio of Earnings to Fixed Charges and Preferred Dividends																Exhibit 12
	Six Months Ended June 30, 2005			Year Ended December 31
(Dollars in millions)	Six Months Ended June 30, 2005			2004			2003			2002			2001			2000
*Excluding Interest on Deposits*
Income before income taxes	$	13,490		$	21,221		$	15,861		$	12,991		$	10,117		$	11,788
Equity in undistributed earnings of unconsolidated subsidiaries		(78	)		(135	)		(125	)		(6	)		(6	)		(27	)
Fixed charges:
Interest expense		7,499			8,155			5,271			5,804			9,117			13,806
1/3 of net rent expense⁽¹⁾		288			512			398			383			379			368

Total fixed charges		7,787			8,667			5,669			6,187			9,496			14,174
Preferred dividend requirements		14			23			6			6			7			9

Fixed charges and preferred dividends		7,801			8,690			5,675			6,193			9,503			14,183

Earnings	$	21,199		$	29,753		$	21,405		$	19,172		$	19,607		$	25,935

Ratio of earnings to fixed charges		2.72			3.43			3.78			3.10			2.06			1.83

Ratio of earnings to fixed charges and preferred dividends		2.72			3.42			3.77			3.10			2.06			1.83


	Six Months Ended June 30, 2005			Year Ended December 31
(Dollars in millions)	Six Months Ended June 30, 2005				2004			2003			2002			2001			2000
*Including Interest on Deposits*
Income before income taxes	$	13,490		$	21,221		$	15,861		$	12,991		$	10,117		$	11,788
Equity in undistributed earnings of unconsolidated subsidiaries		(78	)		(135	)		(125	)		(6	)		(6	)		(27	)
Fixed charges:
Interest expense		11,921			14,430			10,179			11,238			18,003			24,816
1/3 of net rent expense⁽¹⁾		288			512			398			383			379			368

Total fixed charges		12,209			14,942			10,577			11,621			18,382			25,184
Preferred dividend requirements		14			23			6			6			7			9

Fixed charges and preferred dividends		12,223			14,965			10,583			11,627			18,389			25,193

Earnings	$	25,621		$	36,028		$	26,313		$	24,606		$	28,493		$	36,945

Ratio of earnings to fixed charges		2.10			2.41			2.49			2.12			1.55			1.47

Ratio of earnings to fixed charges and preferred dividends		2.10			2.41			2.49			2.12			1.55			1.47

⁽¹⁾

Represents an appropriate interest factor.

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