Bank of America Corporation and Subsidiaries Exhibit 12(a)
Ratio of Earnings to Fixed Charges
<TABLE>
<CAPTION>
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Nine Months Year Ended December 31
Ended ------------------------------------------------------------------
(Dollars in millions) September 30, 2000 1999 1998 1997 1996 1995
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<S> <C> <C> <C> <C> <C> <C>
Excluding Interest on Deposits
Income before income taxes $9,641 $12,215 $ 8,048 $10,556 $ 9,311 $ 8,377
Less: Equity in undistributed earnings of
unconsolidated subsidiaries (28) (167) 162 (49) (7) (19)
Fixed charges:
Interest expense (including capitalized interest) 10,257 10,084 9,479 8,219 7,082 6,354
1/3 of net rent expense 274 342 335 302 282 275
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Total fixed charges 10,531 10,426 9,814 8,521 7,364 6,629
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Earnings (excluding capitalized interest) $20,144 $22,474 $18,024 $19,028 $16,668 $14,987
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Fixed charges $10,531 $10,426 $9,814 $8,521 $7,364 $6,629
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Ratio of earnings to fixed charges 1.91 2.16 1.84 2.23 2.26 2.26
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</TABLE>
<TABLE>
<CAPTION>
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Nine Months Year Ended December 31
Ended ------------------------------------------------------------------
(Dollars in millions) September 30, 2000 1999 1998 1997 1996 1995
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<S> <C> <C> <C> <C> <C> <C>
Including Interest on Deposits
Income before income taxes $9,641 $12,215 $ 8,048 $10,556 $ 9,311 $ 8,377
Less: Equity in undistributed earnings of
unconsolidated subsidiaries (28) (167) 162 (49) (7) (19)
Fixed charges:
Interest expense (including capitalized interest) 18,340 19,086 20,290 18,903 16,682 16,369
1/3 of net rent expense 274 342 335 302 282 275
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Total fixed charges 18,614 19,428 20,625 19,205 16,964 16,644
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Earnings (excluding capitalized interest) $28,227 $31,476 $28,835 $29,712 $26,268 $25,002
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Fixed charges $18,614 $19,428 $20,625 $19,205 $16,964 $16,644
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Ratio of earnings to fixed charges 1.52 1.62 1.40 1.55 1.55 1.50
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</TABLE>
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