Wells Fargo & Company (WFC) 10-Q 2015 Q1 Quarterly report

EXHIBIT 12(a)
WELLS FARGO & COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
		Quarter ended March 31,
($ in millions)		2015		2014
Earnings including interest on deposits(1):
	Income before income tax expense	$	8,163	8,352
	Less: Net income from noncontrolling interests	80		182
	Income before income tax expense and after noncontrolling interests	8,083		8,170
	Fixed charges	1,077		1,094
		$	9,160	9,264
Fixed charges (1):
	Interest expense	$	977	997
	Estimated interest component of net rental expense	100		97
		$	1,077	1,094
Ratio of earnings to fixed charges (2)		8.51		8.47
Earnings excluding interest on deposits:
	Income before income tax expense and after noncontrolling interests	$	8,083	8,170
	Fixed charges	819		815
		$	8,902	8,985
Fixed charges:
	Interest expense	$	977	997
	Less: Interest on deposits	258		279
	Estimated interest component of net rental expense	100		97
		$	819	815
Ratio of earnings to fixed charges (2)		10.87		11.02

(1) As defined in Item 503(d) of Regulation S-K.

(2) These computations are included herein in compliance with Securities and Exchange Commission regulations.  However, management believes that fixed charge ratios are not meaningful measures for the business of the Company because of two factors. First, even if there was no change in net income, the ratios would decline with an increase in the proportion of income which is tax-exempt or, conversely, they would increase with a decrease in the proportion of income which is tax-exempt. Second, even if there was no change in net income, the ratios would decline if interest income and interest expense increase by the same amount due to an increase in the level of interest rates or, conversely, they would increase if interest income and interest expense decrease by the same amount due to a decrease in the level of interest rates.