Exhibit 12.1
BB&T Corporation
Earnings To Fixed Charges
(Dollars in thousands)
For the Three Months
Ended March 31, For the Years Ended December 31,
------------------------ --------------------------------------------------------------
2001 2000 2000 1999 1998 1997 1996
---------- ---------- ---------- ---------- ---------- ---------- ----------
Earnings:
Income before income taxes $ 309,237 $ 279,293 $ 907,798 $1,061,788 $ 975,284 $ 778,798 $ 706,700
Plus:
Fixed charges 642,766 536,137 2,408,258 1,918,542 1,796,161 1,593,332 1,416,531
Less:
Capitalized interest 0 0 0 0 0 0 0
---------- ---------- ---------- ---------- ---------- ---------- ----------
Earnings, including interest
on deposits 952,003 815,430 3,316,056 2,980,330 2,771,445 2,372,130 2,123,231
---------- ---------- ---------- ---------- ---------- ---------- ----------
Less:
Interest on deposits 403,219 339,796 1,521,649 1,235,985 1,223,834 1,090,199 968,436
---------- ---------- ---------- ---------- ---------- ---------- ----------
Earnings, excluding interest
on deposits $ 548,784 $ 475,634 $1,794,407 $1,744,345 $1,547,611 $1,281,931 $1,154,795
========== ========== ========== ========== ========== ========== ==========
Fixed Charges:
Interest expense $ 637,778 $ 530,967 $2,388,158 $1,896,475 $1,780,961 $1,579,999 $1,403,531
Capitalized interest 0 0 0 0 0 0 0
Interest portion of rent expense 4,988 5,170 20,100 22,067 15,200 13,333 13,000
---------- ---------- ---------- ---------- ---------- ---------- ----------
Total Fixed Charges $ 642,766 $ 536,137 $2,408,258 $1,918,542 $1,796,161 $1,593,332 $1,416,531
========== ========== ========== ========== ========== ========== ==========
Less:
Interest on deposits 403,219 339,796 1,521,649 1,235,985 1,223,834 1,090,199 968,436
---------- ---------- ---------- ---------- ---------- ---------- ----------
Total fixed charges excluding
interest on deposits $ 239,547 $ 196,341 $ 886,609 $ 682,557 $ 572,327 $ 503,133 $ 448,095
========== ========== ========== ========== ========== ========== ==========
Earnings to fixed charges:
Including interest on deposits 1.48 x 1.52 x 1.38 x 1.55 x 1.54 x 1.49 x 1.50 x
========== ========== ========== ========== ========== ========== ==========
Excluding interest on deposits 2.29 x 2.42 x 2.02 x 2.56 x 2.70 x 2.55 x 2.58 x
========== ========== ========== ========== ========== ========== ==========