Bank of America Corporation and Subsidiaries Exhibit 12(a) Ratio of Earnings to Fixed Charges - ----------------------------------------------------------------------------------------------------------------------------------- Nine Months Ended Year Ended December 31 September 30, ----------------------------------------------------------- (Dollars in millions) 2001 2000 1999 1998 1997 1996 - ----------------------------------------------------------------------------------------------------------------------------------- Excluding Interest on Deposits Income before income taxes $7,633 $ 11,788 $12,215 $ 8,048 $10,556 $ 9,311 Less: Equity in undistributed earnings of unconsolidated subsidiaries (5) (27) (167) 162 (49) (7) Fixed charges: Interest expense (including capitalized interest) 7,442 13,806 10,084 9,479 8,219 7,082 1/3 of net rent expense 282 368 342 335 302 282 - ----------------------------------------------------------------------------------------------------------------------------------- Total fixed charges 7,724 14,174 10,426 9,814 8,521 7,364 - ----------------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $15,352 $25,935 $22,474 $18,024 $19,028 $16,668 - ----------------------------------------------------------------------------------------------------------------------------------- Fixed charges $7,724 $14,174 $10,426 $9,814 $8,521 $7,364 - ----------------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges 1.99 1.83 2.16 1.84 2.23 2.26 =================================================================================================================================== - ----------------------------------------------------------------------------------------------------------------------------------- Nine Months Ended Year Ended December 31 September 30, ----------------------------------------------------------- (Dollars in millions) 2001 2000 1999 1998 1997 1996 - ----------------------------------------------------------------------------------------------------------------------------------- Including Interest on Deposits Income before income taxes $7,633 $ 11,788 $12,215 $ 8,048 $10,556 $ 9,311 Less: Equity in undistributed earnings of unconsolidated subsidiaries (5) (27) (167) 162 (49) (7) Fixed charges: Interest expense (including capitalized interest) 14,615 24,816 19,086 20,290 18,903 16,682 1/3 of net rent expense 282 368 342 335 302 282 - ----------------------------------------------------------------------------------------------------------------------------------- Total fixed charges 14,897 25,184 19,428 20,625 19,205 16,964 - ----------------------------------------------------------------------------------------------------------------------------------- Earnings (excluding capitalized interest) $22,525 $36,945 $31,476 $28,835 $29,712 $26,268 - ----------------------------------------------------------------------------------------------------------------------------------- Fixed charges $14,897 $25,184 $19,428 $20,625 $19,205 $16,964 - ----------------------------------------------------------------------------------------------------------------------------------- Ratio of earnings to fixed charges 1.51 1.47 1.62 1.40 1.55 1.55 ===================================================================================================================================