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) | 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) | | 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. |