Bank of America Corporation and Subsidiaries Exhibit 12(a) Ratio of Earnings to Fixed Charges - ------------------------------------------------------------------------------------------------------------------------------------ Six Months Year Ended December 31 Ended --------------------------------------------------------------- (Dollars in millions) June 30, 2001 2000 1999 1998 1997 1996 - ------------------------------------------------------------------------------------------------------------------------------------ Excluding Interest on Deposits Income before income taxes $ 6,065 $ 11,788 $12,215 $ 8,048 $10,556 $ 9,311 Less: Equity in undistributed earnings of unconsolidated subsidiaries (2) (27) (167) 162 (49) (7) Fixed charges: Interest expense (including capitalized interest) 5,421 13,806 10,084 9,479 8,219 7,082 1/3 of net rent expense 187 368 342 335 302 282 - ------------------------------------------------------------------------------------------------------------------------------------ Total fixed charges 5,608 14,174 10,426 9,814 8,521 7,364 - ------------------------------------------------------------------------------------------------------------------------------------ Earnings (excluding capitalized interest) $11,671 $ 25,935 $22,474 $ 18,024 $19,028 $16,668 - ------------------------------------------------------------------------------------------------------------------------------------ Fixed charges $ 5,608 $ 14,174 $10,426 $ 9,814 $ 8,521 $ 7,364 - ------------------------------------------------------------------------------------------------------------------------------------ Ratio of earnings to fixed charges 2.08 1.83 2.16 1.84 2.23 2.26 ==================================================================================================================================== - ------------------------------------------------------------------------------------------------------------------------------------ Six Months Year Ended December 31 Ended --------------------------------------------------------------- (Dollars in millions) June 30, 2001 2000 1999 1998 1997 1996 - ------------------------------------------------------------------------------------------------------------------------------------ Including Interest on Deposits Income before income taxes $ 6,065 $ 11,788 $12,215 $ 8,048 $10,556 $ 9,311 Less: Equity in undistributed earnings of unconsolidated subsidiaries (2) (27) (167) 162 (49) (7) Fixed charges: Interest expense (including capitalized interest) 10,497 24,816 19,086 20,290 18,903 16,682 1/3 of net rent expense 187 368 342 335 302 282 - ------------------------------------------------------------------------------------------------------------------------------------ Total fixed charges 10,684 25,184 19,428 20,625 19,205 16,964 - ------------------------------------------------------------------------------------------------------------------------------------ Earnings (excluding capitalized interest) $16,747 $ 36,945 $31,476 $28,835 $29,712 $26,268 - ------------------------------------------------------------------------------------------------------------------------------------ Fixed charges $10,684 $ 25,184 $19,428 $20,625 $19,205 $16,964 - ------------------------------------------------------------------------------------------------------------------------------------ Ratio of earnings to fixed charges 1.57 1.47 1.62 1.40 1.55 1.55 ====================================================================================================================================