FIRST UNION CORPORATION AND SUBSIDIARIES
COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
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SIX
MONTHS
ENDED YEARS ENDED DECEMBER 31,
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JUNE 30,
1999 1998 1997 1996 1995 1994
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EXCLUDING INTEREST
ON DEPOSITS
Pretax income from continuing
operations $ 2,375 3,965 3,793 3,534 3,409 2,747
Fixed charges, excluding capitalized
interest 1,677 3,504 2,526 2,224 1,821 1,110
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Earnings (A) $ 4,052 7,469 6,319 5,758 5,230 3,857
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Interest, excluding interest on deposits $ 1,625 3,395 2,420 2,120 1,716 1,013
One-third of rents 52 109 106 104 105 97
Capitalized interest - - - 5 4 1
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Fixed charges (B) $ 1,677 3,504 2,526 2,229 1,825 1,111
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Consolidated ratios of earnings to
fixed charges, excluding interest
on deposits (A)/(B) 2.42 X 2.13 2.50 2.58 2.87 3.47
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INCLUDING INTEREST
ON DEPOSITS
Pretax income from continuing
operations $ 2,375 3,965 3,793 3,534 3,409 2,747
Fixed charges, excluding capitalized
interest 3,623 7,820 6,674 6,255 5,837 3,836
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Earnings (C) $ 5,998 11,785 10,467 9,789 9,246 6,583
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Interest, including interest on deposits $ 3,571 7,711 6,568 6,151 5,732 3,739
One-third of rents 52 109 106 104 105 97
Capitalized interest - - - 5 4 1
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Fixed charges (D) $ 3,623 7,820 6,674 6,260 5,841 3,837
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Consolidated ratios of earnings to
fixed charges, including interest
on deposits (C)/(D) 1.66 X 1.51 1.57 1.56 1.58 1.72
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