Bank of America Corporation and Subsidiaries Exhibit 12(a) Ratio of Earnings to Fixed Charges - ---------------------------------------------------------------------------------------------------------------------------------- Nine Months Year Ended December 31 Ended ------------------------------------------------------------------ (Dollars in millions) September 30, 2000 1999 1998 1997 1996 1995 - ---------------------------------------------------------------------------------------------------------------------------------- Excluding Interest on Deposits Income before income taxes $9,641 $12,215 $ 8,048 $10,556 $ 9,311 $ 8,377 Less: Equity in undistributed earnings of unconsolidated subsidiaries (28) (167) 162 (49) (7) (19) Fixed charges: Interest expense (including capitalized interest) 10,257 10,084 9,479 8,219 7,082 6,354 1/3 of net rent expense 274 342 335 302 282 275 - ---------------------------------------------------------------------------------------------------------------------------------- Total fixed charges 10,531 10,426 9,814 8,521 7,364 6,629 - ---------------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $20,144 $22,474 $18,024 $19,028 $16,668 $14,987 - ---------------------------------------------------------------------------------------------------------------------------------- Fixed charges $10,531 $10,426 $9,814 $8,521 $7,364 $6,629 - ---------------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges 1.91 2.16 1.84 2.23 2.26 2.26 - ---------------------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------------------- Nine Months Year Ended December 31 Ended ------------------------------------------------------------------ (Dollars in millions) September 30, 2000 1999 1998 1997 1996 1995 - ---------------------------------------------------------------------------------------------------------------------------------- Including Interest on Deposits Income before income taxes $9,641 $12,215 $ 8,048 $10,556 $ 9,311 $ 8,377 Less: Equity in undistributed earnings of unconsolidated subsidiaries (28) (167) 162 (49) (7) (19) Fixed charges: Interest expense (including capitalized interest) 18,340 19,086 20,290 18,903 16,682 16,369 1/3 of net rent expense 274 342 335 302 282 275 - ---------------------------------------------------------------------------------------------------------------------------------- Total fixed charges 18,614 19,428 20,625 19,205 16,964 16,644 - ---------------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $28,227 $31,476 $28,835 $29,712 $26,268 $25,002 - ---------------------------------------------------------------------------------------------------------------------------------- Fixed charges $18,614 $19,428 $20,625 $19,205 $16,964 $16,644 - ---------------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges 1.52 1.62 1.40 1.55 1.55 1.50 - ---------------------------------------------------------------------------------------------------------------------------------- 66