Bank of America Corporation and Subsidiaries Exhibit 12(b)
Ratio of Earnings to Fixed Charges and Preferred Dividends
Three Months Year Ended December 31
Ended
(Dollars in millions) March 31, 2000 1999 1998 1997 1996 1995
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Excluding Interest on Deposits
Income before income taxes $3,533 $12,215 $ 8,048 $10,556 $ 9,311 $ 8,377
Less: Equity in undistributed earnings of
unconsolidated subsidiaries (7) (167) 162 (49) (7) (19)
Fixed charges:
Interest expense (including capitalized interest) 3,067 10,084 9,479 8,219 7,082 6,354
1/3 of net rent expense 91 342 335 302 282 275
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Total fixed charges 3,158 10,426 9,814 8,521 7,364 6,629
Preferred dividend requirements 2 10 40 183 332 426
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Earnings (excluding capitalized interest) $6,684 $22,474 $18,024 $19,028 $16,668 $14,987
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Fixed charges and preferred dividends $3,160 $10,436 $9,854 $8,704 $7,696 $7,055
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Ratio of earnings to fixed charges and preferred dividends 2.12 2.15 1.83 2.19 2.17 2.12
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Three Months Year Ended December 31
Ended
(Dollars in millions) March 31, 2000 1999 1998 1997 1996 1995
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Including Interest on Deposits
Income before income taxes $3,533 $12,215 $ 8,048 $10,556 $ 9,311 $ 8,377
Less: Equity in undistributed earnings of
unconsolidated subsidiaries (7) (167) 162 (49) (7) (19)
Fixed charges:
Interest expense (including capitalized interest) 5,562 19,086 20,290 18,903 16,682 16,369
1/3 of net rent expense 91 342 335 302 282 275
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Total fixed charges 5,653 19,428 20,625 19,205 16,964 16,644
Preferred dividend requirements 2 10 40 183 332 426
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Earnings (excluding capitalized interest) $9,179 $31,476 $28,835 $29,712 $26,268 $25,002
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Fixed charges and preferred dividends $5,655 $19,438 $20,665 $19,388 $17,296 $17,070
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Ratio of earnings to fixed charges and preferred dividends 1.62 1.62 1.40 1.53 1.52 1.46
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