NationsBank Corporation and Subsidiaries Exhibit 12(a) Ratio of Earnings to Fixed Charges - ------------------------------------------------------------------------------------------------------------------------------------ (Dollars in Millions) Year ended December 31 Three Months ----------------------------------------------------------------------- Ended March 31, 1998 1997 1996 1995 1994 1993 --------------------------------------------------------------------------------------- Excluding Interest on Deposits - ------------------------------------------------ Income before taxes $ 836 $ 5,230 $ 4,536 $ 3,810 $ 3,293 $ 2,619 Equity in undistributed (earnings) losses of unconsolidated subsidiaries (1) - 2 (7) (3) (5) Fixed charges: Interest expense (including capitalized interest) 1,531 5,060 4,342 4,706 3,056 1,512 Amortization of debt discount and appropriate issuance costs 5 19 20 12 8 6 1/3 of net rent expense 46 180 157 155 141 129 ---------- ------------------------------------------------------------------------- Total fixed charges 1,582 5,259 4,519 4,873 3,205 1,647 Earnings (excluding capitalized interest) $ 2,417 $ 10,489 $ 9,057 $ 8,676 $ 6,495 $ 4,261 ========== ========================================================================= Fixed charges $ 1,582 $ 5,259 $ 4,519 $ 4,873 $ 3,205 $ 1,647 ========== ========================================================================= Ratio of Earnings to Fixed Charges 1.53 1.99 2.00 1.78 2.03 2.59 Including Interest on Deposits - ------------------------------------------------ Income before taxes $ 836 $ 5,230 $ 4,536 $ 3,810 $ 3,293 $ 2,619 Equity in undistributed (earnings) losses of unconsolidated subsidiaries (1) - 2 (7) (3) (5) Fixed charges: Interest expense (including capitalized interest) 2,734 9,951 8,588 8,980 6,231 4,450 Amortization of debt discount and appropriate issuance costs 5 19 20 12 8 6 1/3 of net rent expense 46 180 157 155 141 129 ---------- ------------------------------------------------------------------------- Total fixed charges 2,785 10,150 8,765 9,147 6,380 4,585 Earnings (excluding capitalized interest) $ 3,620 $ 15,380 $ 13,303 $ 12,950 $ 9,670 $ 7,199 ========== ========================================================================= Fixed charges $ 2,785 $ 10,150 $ 8,765 $ 9,147 $ 6,380 $ 4,585 ========== ========================================================================= Ratio of Earnings to Fixed Charges 1.30 1.52 1.52 1.42 1.52 1.57 42