Truist Financial (TFC) 10-Q 2017 Q3 Quarterly report

Exhibit 12
Earnings To Fixed Charges
BB&T Corporation
	Nine Months Ended September 30,						Year Ended December 31,
(Dollars in millions)	2017			2016			2016			2015			2014		2013		2012
Earnings:
Income before income taxes	$	2,450		$	2,570		$	3,500		$	2,917		$	3,127	$	3,283	$	2,945
Plus:
Fixed charges	662			638			843			819			843		967		1,130
Distributions from equity method investees	3			3			5			8			9		9		6
Less:
Capitalized interest	1			2			3			2			1		—		—
Income (loss) from equity method investees	(8		)	(7		)	(9		)	(3		)	—		9		3
Earnings	3,122			3,216			4,354			3,745			3,978		4,250		4,078
Less:
Interest on deposits	240			190			251			233			239		301		429
Earnings, excluding interest on deposits	$	2,882		$	3,026		$	4,103		$	3,512		$	3,739	$	3,949	$	3,649
Fixed charges:
Interest expense	$	585		$	565		$	745		$	735		$	768	$	891	$	1,060
Capitalized interest	1			2			3			2			1		—		—
Interest portion of rent expense	76			71			95			82			74		76		70
Total fixed charges	662			638			843			819			843		967		1,130
Less:
Interest on deposits	240			190			251			233			239		301		429
Total fixed charges, excluding interest on deposits	422			448			592			586			604		666		701
Dividends/accretion on preferred stock (1)	182			176			239			203			210		222		90
Total fixed charges and preferred dividends	$	844		$	814		$	1,082		$	1,022		$	1,053	$	1,189	$	1,220
Total fixed charges and preferred dividends, excluding interest on deposits	$	604		$	624		$	831		$	789		$	814	$	888	$	791
Earnings to fixed charges:
Including interest on deposits	4.72x			5.04x			5.16x			4.57x			4.72x		4.40x		3.61x
Excluding interest on deposits	6.83x			6.75x			6.93x			5.99x			6.19x		5.93x		5.21x
Earnings to fixed charges and preferred dividends:
Including interest on deposits	3.70x			3.95x			4.02x			3.66x			3.78x		3.57x		3.34x
Excluding interest on deposits	4.77x			4.85x			4.94x			4.45x			4.59x		4.45x		4.61x

(1) Dividends on preferred stock have been grossed up by the effective tax rate for the period.