Bank of America Corporation and Subsidiaries Exhibit 12(a)
Ratio of Earnings to Fixed Charges
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Year Ended December 31
Three Months ------------------------------------------------------
Ended
(Dollars in millions) March 31, 2001 2000 1999 1998 1997 1996
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Excluding Interest on Deposits
Income before income taxes $2,922 $ 11,788 $12,215 $ 8,048 $10,556 $ 9,311
Less: Equity in undistributed earnings of
unconsolidated subsidiaries (3) (27) (167) 162 (49) (7)
Fixed charges:
Interest expense (including capitalized interest) 2,889 13,806 10,084 9,479 8,219 7,082
1/3 of net rent expense 94 368 342 335 302 282
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Total fixed charges 2,983 14,174 10,426 9,814 8,521 7,364
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Earnings (excluding capitalized interest) $5,902 $25,935 $22,474 $18,024 $19,028 $16,668
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Fixed charges $2,983 $14,174 $10,426 $9,814 $8,521 $7,364
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Ratio of earnings to fixed charges 1.98 1.83 2.16 1.84 2.23 2.26
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Year Ended December 31
Three Months -----------------------------------------------------
Ended
(Dollars in millions) March 31, 2001 2000 1999 1998 1997 1996
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Including Interest on Deposits
Income before income taxes $2,922 $ 11,788 $12,215 $ 8,048 $10,556 $ 9,311
Less: Equity in undistributed earnings of
unconsolidated subsidiaries (3) (27) (167) 162 (49) (7)
Fixed charges:
Interest expense (including capitalized interest) 5,602 24,816 19,086 20,290 18,903 16,682
1/3 of net rent expense 94 368 342 335 302 282
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Total fixed charges 5,696 25,184 19,428 20,625 19,205 16,964
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Earnings (excluding capitalized interest) $8,615 $36,945 $31,476 $28,835 $29,712 $26,268
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Fixed charges $5,696 $25,184 $19,428 $20,625 $19,205 $16,964
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Ratio of earnings to fixed charges 1.51 1.47 1.62 1.40 1.55 1.55
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