EXHIBIT 99(a)
WELLS FARGO & COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
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Quarter Six months
ended June 30, ended June 30,
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(in millions) 1998 1997 1998 1997
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EARNINGS, INCLUDING INTEREST ON DEPOSITS (1):
Income before income tax expense $ 619 $ 440 $1,200 $1,070
Fixed charges 556 600 1,146 1,195
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$1,175 $1,040 $2,346 $2,265
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Fixed charges (1):
Interest expense $ 525 $ 569 $1,082 $1,131
Estimated interest component of net
rental expense 31 31 64 64
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$ 556 $ 600 $1,146 $1,195
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Ratio of earnings to fixed charges (2) 2.11 1.73 2.05 1.90
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EARNINGS, EXCLUDING INTEREST ON DEPOSITS:
Income before income tax expense $ 619 $ 440 $1,200 $1,070
Fixed charges 153 171 335 344
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$ 772 $ 611 $1,535 $1,414
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Fixed charges:
Interest expense $ 525 $ 569 $1,082 $1,131
Estimated interest component of net
rental expense 31 31 64 64
Less interest on deposits 403 429 811 851
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$ 153 $ 171 $ 335 $ 344
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Ratio of earnings to fixed charges (2) 5.05 3.57 4.58 4.11
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(1) As defined in Item 503(d) of Regulation S-K.
(2) These computations are included herein in compliance with Securities and
Exchange Commission regulations. However, management believes that fixed
charge ratios are not meaningful measures for the business of the Company
because of two factors. First, even if there was no change in net income,
the ratios would decline with an increase in the proportion of income which
is tax-exempt or, conversely, they would increase with a decrease in the
proportion of income which is tax-exempt. Second, even if there was no
change in net income, the ratios would decline if interest income and
interest expense increase by the same amount due to an increase in the level
of interest rates or, conversely, they would increase if interest income and
interest expense decrease by the same amount due to a decrease in the level
of interest rates.