EXHIBIT 12
FLEETBOSTON FINANCIAL CORPORATION
COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS
TO FIXED CHARGES AND PREFERRED DIVIDENDS
EXCLUDING INTEREST ON DEPOSITS
(dollars in millions)
<TABLE>
<CAPTION>
Nine Three
months months
ended ended
Sept. 30, Sept. 30, Year ended December 31,
--------------------------------------------------------------------------------------------------------------
2000 2000 1999 1998 1997 1996 1995
--------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Earnings:
Income before income taxes $4,502 $1,388 $3,426 $3,776 $3,762 $3,185 $2,354
Adjustments:
(a) Fixed charges:
(1) Interest on borrowed funds 2,540 879 2,794 2,240 1,788 1,686 2,492
(2) 1/3 of rent 60 20 103 96 92 95 90
(b) Preferred dividends 50 16 85 97 157 183 129
------ ------ ------ ------ ------ ------ ------
(c) Adjusted earnings $7,152 $2,303 $6,408 $6,209 $5,799 $5,149 $5,065
====== ====== ====== ====== ====== ====== ======
Fixed charges and preferred dividends $2,650 $ 915 $2,982 $2,433 $2,037 $1,964 $2,711
====== ====== ====== ====== ====== ====== ======
Adjusted earnings/fixed charges 2.70x 2.52x 2.15x 2.55x 2.85x 2.62x 1.87x
====== ====== ====== ====== ====== ====== ======
</TABLE>
INCLUDING INTEREST ON DEPOSITS
(dollars in millions)
<TABLE>
<CAPTION>
Nine Three
months months
ended ended
Sept. 30, Sept. 30, Year ended December 31,
------------------------------------------------------------------------------------------------------------
2000 2000 1999 1998 1997 1996 1995
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Earnings:
Income before income taxes $4,502 $1,388 $3,426 $3,776 $3,762 $3,185 $2,354
Adjustments:
(a) Fixed charges:
(1) Interest on borrowed funds 2,540 879 2,794 2,240 1,788 1,686 2,492
(2) 1/3 of rent 60 20 103 96 92 95 90
(3) Interest on deposits 2,701 920 3,516 3,706 3,339 3,433 3,517
(b) Preferred dividends 50 16 85 97 157 183 129
------ ------ ------ ------ ------ ------ ------
(c) Adjusted earnings $9,853 $3,223 $9,924 $9,915 $9,138 $8,582 $8,582
====== ====== ====== ====== ====== ====== ======
Fixed charges and preferred dividends $5,351 $1,835 $6,498 $6,139 $5,376 $5,397 $6,228
====== ====== ====== ====== ====== ====== ======
Adjusted earnings/fixed charges 1.84x 1.76x 1.53x 1.62x 1.70x 1.59x 1.38x
====== ====== ====== ====== ====== ====== ======
</TABLE>
1
<PAGE>
EXHIBIT 12 (continued)
FLEETBOSTON FINANCIAL CORPORATION
COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS
TO FIXED CHARGES
EXCLUDING INTEREST ON DEPOSITS
(dollars in millions)
<TABLE>
<CAPTION>
Nine Three
months months
ended ended
Sept. 30, Sept. 30, Year ended December 31,
------------------------------------------------------------------------------------------------------------
2000 2000 1999 1998 1997 1996 1995
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Earnings:
Income before income taxes $4,502 $1,388 $3,426 $3,776 $3,762 $3,185 $2,354
Adjustments:
(a) Fixed charges:
(1) Interest on borrowed funds 2,540 879 2,794 2,240 1,788 1,686 2,492
(2) 1/3 of rent 60 20 103 96 92 95 90
------ ------ ------ ------ ------ ------ ------
(b) Adjusted earnings $7,102 $2,287 $6,323 $6,112 $5,642 $4,966 $4,936
====== ====== ====== ====== ====== ====== ======
Fixed charges $2,600 $ 899 $2,897 $2,336 $1,880 $1,781 $2,582
====== ====== ====== ====== ====== ====== ======
Adjusted earnings/fixed charges 2.73x 2.54x 2.18x 2.62x 3.00x 2.79x 1.91x
====== ====== ====== ====== ====== ====== ======
</TABLE>
INCLUDING INTEREST ON DEPOSITS
(dollars in millions)
<TABLE>
<CAPTION>
Nine Three
months months
ended ended
Sept. 30, Sept. 30, Year ended December 31,
------------------------------------------------------------------------------------------------------------
2000 2000 1999 1998 1997 1996 1995
------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Earnings:
Income before income taxes $4,502 $1,388 $3,426 $3,776 $3,762 $3,185 $2,354
Adjustments:
(a) Fixed charges:
(1) Interest on borrowed funds 2,540 879 2,794 2,240 1,788 1,686 2,492
(2) 1/3 of rent 60 20 103 96 92 95 90
(3) Interest on deposits 2,701 920 3,516 3,706 3,339 3,433 3,517
------ ------ ------ ------ ------ ------ ------
(b) Adjusted earnings $9,803 $3,207 $9,839 $9,818 $8,981 $8,399 $8,453
====== ====== ====== ====== ====== ====== ======
Fixed charges $5,301 $1,819 $6,413 $6,042 $5,219 $5,214 $6,099
====== ====== ====== ====== ====== ====== ======
Adjusted earnings/fixed charges 1.85x 1.76x 1.53x 1.62x 1.72x 1.61x 1.39x
====== ====== ====== ====== ====== ====== ======
</TABLE>
2
