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WACHOVIA CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12
<TABLE>
<CAPTION>
Six Months Year
Ended Ended
June 30, December 31,
(A) Excluding interest on deposits 2000 1999
Earnings: ----------------- -----------------
<S> <C> <C>
Income before income taxes $583,902 $1,542,373
Less capitalized interest 0 (160)
Fixed charges 541,646 957,002
----------------- -----------------
Earnings as adjusted $1,125,548 $2,499,215
================= =================
Fixed charges:
Interest on purchased and other
short term borrowed funds $255,523 $457,161
Interest on long-term debt 272,161 474,378
Portion of rents representative of the
interest factor (1/3) of rental expense 13,962 25,463
----------------- -----------------
Fixed charges $541,646 $957,002
================= =================
Ratio of earnings to fixed charges 2.08 X 2.61 X
(B) Including interest on deposits:
Adjusted earnings from (A) above $1,125,548 $2,499,215
Add interest on deposits 783,906 1,265,195
----------------- -----------------
Earnings as adjusted $1,909,454 $3,764,410
================= =================
Fixed charges:
Fixed charges from (A) above $541,646 $957,002
Interest on deposits 783,906 1,265,195
----------------- -----------------
Adjusted fixed charges $1,325,552 $2,222,197
================= =================
Adjusted earnings to adjusted fixed 1.44 X 1.69 X
charges
</TABLE>
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