EXHIBIT 12.2
BANK OF BOSTON CORPORATION
COMPUTATION OF SUPPLEMENTAL CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
(Including Interest on Deposits)
The Corporation's ratios of earnings to fixed charges (including interest on
deposits) for the six months ended June 30, 1996 and 1995 and the five years
ended December 31, 1995 were as follows:
Six Months Ended June 30, Years Ended December 31,
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(Dollars in millions)
1996 1995 1995 1994 1993 1992 1991
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Net income (loss) $ 369 $ 323 $ 678 $ 542 $ 367 $ 338 $ (103)
Extraordinary items, net of tax 7 (73) (8)
Cumulative effect of changes
in accounting principles, net of tax (24)
Income tax expense (benefit) 263 264 529 422 262 190 (51)
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Pretax earnings (loss) 632 587 1,207 971 605 455 (162)
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Fixed charges:
Portion of rental expense
(net of sublease rental
income) which approximates
the interest factor 20 18 38 35 36 37 39
Interest on borrowed funds 460 531 1,079 1,038 384 352 386
Interest on deposits 846 883 1,791 1,301 1,177 1,640 2,202
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Total fixed charges 1,326 1,432 2,908 2,374 1,597 2,029 2,627
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Earnings (for ratio calculation) $ 1,958 $ 2,019 $ 4,115 $ 3,345 $ 2,202 $ 2,484 $ 2,465
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Total fixed charges $ 1,326 $ 1,432 $ 2,908 $ 2,374 $ 1,597 $ 2,029 $ 2,627
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Ratio of earnings to fixed
charges 1.48 1.41 1.42 1.41 1.38 1.22 .94
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For purposes of computing the consolidated ratio of earnings to fixed charges
"earnings" represent income (loss) before extraordinary items and cumulative
effect of changes in accounting principles plus applicable income taxes and
fixed charges. "Fixed charges" include gross interest expense (including
interest on deposits) and the proportion deemed representative of the interest
factor of rent expense, net of income from subleases. For the year ended
December 31, 1991, earnings were insufficient to cover fixed charges. Additional
earnings necessary to bring the ratio of earnings to fixed charges to a one-to-
one basis are $162 million.