Exhibit (12)
FIRST UNION CORPORATION AND SUBSIDIARIES
COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
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Three
Months
Ended
Mar. 31, Years Ended December 31,
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(Dollars in millions) 1997 1996 1995 1994 1993 1992
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EXCLUDING INTEREST ON DEPOSITS
Pretax income from continuing operations $ 726 2,310 2,219 2,088 1,795 977
Fixed charges, excluding capitalized
interest 422 1,739 1,266 816 608 570
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Earnings (A) $ 1,148 4,049 3,485 2,904 2,403 1,547
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Interest, excluding interest on deposits $ 388 1,672 1,198 747 538 502
Distributions on guaranteed preferred
beneficial interests 17 - - - - -
One-third of rents 17 67 68 69 70 68
Capitalized interest - 4 3 1 - -
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Fixed charges (B) $ 422 1,743 1,269 817 608 570
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Consolidated ratios of earnings to fixed
charges, excluding interest on deposits (A)/(B) 2.72 X 2.32 2.75 3.55 3.95 2.71
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INCLUDING INTEREST ON DEPOSITS
Pretax income from continuing operations $ 726 2,310 2,219 2,088 1,795 977
Fixed charges, excluding capitalized
interest 1,165 4,699 4,120 2,862 2,552 3,010
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Earnings (C) $ 1,891 7,009 6,339 4,950 4,347 3,987
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Interest, including interest on deposits $ 1,131 4,632 4,052 2,793 2,482 2,942
Distributions on guaranteed preferred
beneficial interests 17 - - - - -
One-third of rents 17 67 68 69 70 68
Capitalized interest - 4 3 1 - -
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Fixed charges (D) $ 1,165 4,703 4,123 2,863 2,552 3,010
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Consolidated ratios of earnings to fixed
charges, including interest on deposits (C)/(D) 1.62 X 1.49 1.54 1.73 1.70 1.32
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