Wells Fargo & Company (WFC) 10-Q 2011 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)	2011		2010
Earnings including interest on deposits(1):
Income before income tax expense	$	5,386		4,001
Less: Net income from noncontrolling interests		55		53
Income before income tax expense and noncontrolling interests		5,331		3,948
Fixed charges		1,913		2,201
		7,244		6,149
Fixed charges (1):
Interest expense		1,821		2,078
Estimated interest component of net rental expense		92		123
		1,913		2,201
Ratio of earnings to fixed charges (2)		3.79		2.79
Earnings excluding interest on deposits:
Income before income tax expense and noncontrolling interests		5,331		3,948
Fixed charges		1,298		1,466
		6,629		5,414
Fixed charges:
Interest expense		1,821		2,078
Less: Interest on deposits		615		735
Estimated interest component of net rental expense		92		123
	$	1,298		1,466
Ratio of earnings to fixed charges (2)		5.11		3.69

(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.