NATIONSBANK CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
Year Ended
December 31,
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6 Months 3 Months
Ended Ended
June 30, 1994 March 31, 1994 1993 1992 1991 1990 1989
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(Dollars in Thousands)
Excluding Interest on Deposits
Income before taxes $1,314,415 $ 657,653 $1,991,103 $1,396,213 $ 108,524 $ 625,467 $1,287,306
Equity in undistributed earnings
of unconsolidated subsidiaries (495) (219) (1,998) (1,426) (1,114) (668) (471)
Fixed charges:
Interest expense (including
capitalized interest) 1,239,611 590,395 1,420,800 915,880 1,290,755 1,851,513 1,691,394
Amortization of debt discount and
appropriate issuance costs 5,842 2,481 6,377 3,000 2,093 2,872 2,863
1/3 of net rent expense 54,618 27,703 95,786 90,667 81,909 66,195 60,341
Total fixed charges 1,300,071 620,579 1,522,963 1,009,547 1,374,757 1,920,580 1,754,598
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Earnings (excluding capitalized interest) $2,613,991 $1,278,013 $3,512,068 $2,398,329 $1,470,621 $2,533,093 $3,033,954
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Fixed charges $1,300,071 $ 620,579 $1,522,963 $1,009,547 $1,374,757 $1,920,580 $1,754,598
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Ratio of Earnings to Fixed Charges 2.01 2.06 2.31 2.38 1.07 1.32 1.73
Including Interest on Deposits
Income before taxes $1,314,415 $ 657,653 $1,991,103 $1,396,213 $ 108,524 $ 625,467 $1,287,306
Equity in undistributed earnings
of unconsolidated subsidiaries (495) (219) (1,998) (1,426) (1,114) (668) (471)
Fixed charges:
Interest expense (including
capitalized interest) 2,304,583 1,109,728 3,570,079 3,687,650 5,611,057 6,683,262 6,286,088
Amortization of debt discount and
appropriate issuance costs 5,842 2,481 6,377 3,000 2,093 2,872 2,863
1/3 of net rent expense 54,618 27,703 95,786 90,667 81,909 66,195 60,341
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Total fixed charges 2,365,043 1,139,912 3,672,242 3,781,317 5,695,059 6,752,329 6,349,292
Earnings (excluding capitalized interest) $3,678,963 $1,797,346 $5,661,347 $5,170,099 $5,790,923 $7,364,842 $7,628,648
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Fixed charges $2,365,043 $1,139,912 $3,672,242 $3,781,317 $5,695,059 $6,752,329 $6,349,292
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Ratio of Earnings to Fixed Charges 1.56 1.58 1.54 1.37 1.02 1.09 1.20