Exhibit 12(a) NationsBank Corporation and Subsidiaries Ratio of Earnings to Fixed Charges (Dollars in Millions) Nine Months Ended Year Ended December 31 September 30 --------------------------------------------------------------- 1995 1994 1993 1992 1991 1990 ----------------------------------------------------------------------------- Excluding Interest on Deposits Income before taxes......................... $ 2,203 $ 2,555 $ 1,991 $ 1,396 $ 109 $ 625 Equity in undistributed earnings of unconsolidated subsidiaries............ (6) (3) (5) (1) (1) (1) Fixed charges: Interest expense (including capitalized interest)................ 3,362 2,896 1,421 916 1,291 1,852 Amortization of debt discount and appropriate issuance costs........... 8 8 6 3 2 3 1/3 of net rent expense................ 93 114 96 91 82 66 ----------------------------------------------------------------------------- Total fixed charges................. 3,463 3,018 1,523 1,010 1,375 1,921 Earnings (excluding capitalized interest)... $ 5,660 $ 5,570 $ 3,509 $ 2,398 $ 1,471 $ 2,533 ============================================================================= Fixed charges............................... $ 3,463 $ 3,018 $ 1,523 $ 1,010 $ 1,375 $ 1,921 ============================================================================= Ratio of Earnings to Fixed Charges.......... 1.63 1.85 2.30 2.38 1.07 1.32 Including Interest on Deposits Income before taxes......................... $ 2,203 $ 2,555 $ 1,991 $ 1,396 $ 109 $ 625 Equity in undistributed earnings of unconsolidated subsidiaries............ (6) (3) (5) (1) (1) (1) Fixed charges: Interest expense (including capitalized interest)................ 5,817 5,310 3,570 3,688 5,611 6,683 Amortization of debt discount and appropriate issuance costs........... 8 8 6 3 2 3 1/3 of net rent expense................ 93 114 96 91 82 66 ----------------------------------------------------------------------------- Total fixed charges................. 5,918 5,432 3,672 3,782 5,695 6,752 Earnings (excluding capitalized interest)... $ 8,115 $ 7,984 $ 5,658 $ 5,170 $ 5,791 $ 7,365 ============================================================================= Fixed charges............................... $ 5,918 $ 5,432 $ 3,672 $ 3,782 $ 5,695 $ 6,752 ============================================================================= Ratio of Earnings to Fixed Charges.......... 1.37 1.47 1.54 1.37 1.02 1.09 44