Truist Financial (TFC) 10-Q 2015 Q3 Quarterly report

Exhibit 12
BB&T Corporation
Earnings To Fixed Charges (1)
			Nine Months
			Ended September 30,				Years Ended December 31,
			2015		2014		2014		2013		2012		2011		2010
				(Dollars in millions)
Earnings:
Income before income taxes			$	2,124	$	2,247	$	3,127	$	3,284	$	2,945	$	1,732	$	1,055
Plus:
	Fixed charges			606		642		843		967		1,130		1,442		1,855
	Distributions from equity method investees			7		7		9		9		6		7		2
Less:
	Capitalized interest			2		―		1		―		―		―		―
	Income from equity method investees, net			(3)		1		―		9		3		3		7
		Earnings		2,738		2,895		3,978		4,251		4,078		3,178		2,905
Less:
	Interest on deposits			171		181		239		301		429		610		917
		Earnings, excluding interest on deposits	$	2,567	$	2,714	$	3,739	$	3,950	$	3,649	$	2,568	$	1,988
Fixed charges:
	Interest expense		$	544	$	585	$	768	$	891	$	1,060	$	1,378	$	1,795
	Capitalized interest			2		―		1		―		―		―		―
	Interest portion of rent expense			60		57		74		76		70		64		60
		Total fixed charges		606		642		843		967		1,130		1,442		1,855
Less:
	Interest on deposits			171		181		239		301		429		610		917
		Total fixed charges, excluding interest on deposits		435		461		604		666		701		832		938
Dividends/accretion on preferred stock (2)				149		156		199		211		87		―		―
	Total fixed charges and preferred dividends		$	755	$	798	$	1,042	$	1,178	$	1,217	$	1,442	$	1,855
	Total fixed charges and preferred dividends, excluding interest on deposits		$	584	$	617	$	803	$	877	$	788	$	832	$	938
Earnings to fixed charges:
	Including interest on deposits			4.52x		4.51x		4.72x		4.40x		3.61x		2.20x		1.57x
	Excluding interest on deposits			5.90x		5.89x		6.19x		5.93x		5.21x		3.09x		2.12x
Earnings to fixed charges and preferred dividends:
	Including interest on deposits			3.63x		3.63x		3.82x		3.61x		3.35x		2.20x		1.57x
	Excluding interest on deposits			4.40x		4.40x		4.66x		4.50x		4.63x		3.09x		2.12x
(1)	Prior periods have been revised to reflect the adoption of new accounting guidance related to investments in qualified affordable housing projects.
(2)	Dividends on preferred stock have been grossed up by the effective tax rate for the period.