Bank of America (BAC) 10-Q2006 Q3 Quarterly report

Filed: 8 Nov 06, 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


	Nine Months Ended September 30, 2006			Year Ended December 31
(Dollars in millions)	Nine Months Ended September 30, 2006			2005			2004			2003			2002			2001
*Excluding Interest on Deposits*

Income before income taxes	$	24,150		$	24,480		$	20,908		$	15,781		$	13,479		$	11,246

Equity in undistributed earnings of unconsolidated subsidiaries		(236	)		(151	)		(135	)		(125	)		(6	)		(6	)
Fixed charges:
Interest expense		21,611			18,397			9,072			6,105			6,363			9,360
1/3 of net rent expense⁽¹⁾		450			585			512			398			383			379
Total fixed charges		22,061			18,982			9,584			6,503			6,746			9,739
Preferred dividend requirements		14			27			23			6			6			7
Fixed charges and preferred dividends		22,075			19,009			9,607			6,509			6,752			9,746
Earnings	$	45,975		$	43,311		$	30,357		$	22,159		$	20,219		$	20,979
Ratio of earnings to fixed charges		2.08			2.28			3.17			3.41			3.00			2.15
Ratio of earnings to fixed charges and preferred dividends		2.08			2.28			3.16			3.40			2.99			2.15



	Nine Months Ended September 30, 2006			Year Ended December 31
(Dollars in millions)	Nine Months Ended September 30, 2006			2005			2004			2003			2002			2001
*Including Interest on Deposits*

Income before income taxes	$	24,150		$	24,480		$	20,908		$	15,781		$	13,479		$	11,246

Equity in undistributed earnings of unconsolidated subsidiaries		(236	)		(151	)		(135	)		(125	)		(6	)		(6	)
Fixed charges:
Interest expense		32,102			27,889			14,993			10,667			11,632			18,206
1/3 of net rent expense⁽¹⁾		450			585			512			398			383			379
Total fixed charges		32,552			28,474			15,505			11,065			12,015			18,585
Preferred dividend requirements		14			27			23			6			6			7
Fixed charges and preferred dividends		32,566			28,501			15,528			11,071			12,021			18,592
Earnings	$	56,466		$	52,803		$	36,278		$	26,721		$	25,488		$	29,825
Ratio of earnings to fixed charges		1.73			1.85			2.34			2.41			2.12			1.60
Ratio of earnings to fixed charges and preferred dividends		1.73			1.85			2.34			2.41			2.12			1.60

⁽¹⁾

Representsan appropriate interest factor.

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