EX-12 22 dex12.txt STATEMENT RE COMPUTATION Exhibit 12 Wachovia Corporation and subsidiaries computations of consolidated ratios of earnings to fixed charges --------------------------------------------------------------------------------
Six Months Years Ended December 31, Ended -------------------------------------------------- (In millions) June 30, 2001 2000 1999 1998 1997 1996 ------------------------------------------------------------------------------------------------------------------------------ EXCLUDING INTEREST ON DEPOSITS Pretax income from continuing operations $ 1,769 632 4,831 3,965 3,793 3,534 Fixed charges, excluding capitalized interest 2,060 4,963 3,751 3,504 2,526 2,224 ------------------------------------------------------------------------------------------------------------------------------ Earnings $ 3,829 5,595 8,582 7,469 6,319 5,758 ============================================================================================================================== Interest, excluding interest on deposits $ 1,987 4,828 3,645 3,395 2,420 2,120 One-third of rents 73 135 106 109 106 104 Capitalized interest - - - - - 5 ------------------------------------------------------------------------------------------------------------------------------ Fixed charges $ 2,060 4,963 3,751 3,504 2,526 2,229 ============================================================================================================================== Consolidated ratios of earnings to fixed 1.86x 1.13x 2.29x 2.13x 2.50x 2.58x charges, excluding interest on deposits ============================================================================================================================== INCLUDING INTEREST ON DEPOSITS Pretax income from continuing operations $ 1,769 632 4,831 3,965 3,793 3,534 Fixed charges, excluding capitalized interest 4,505 10,232 7,805 7,820 6,674 6,255 ------------------------------------------------------------------------------------------------------------------------------ Earnings $ 6,274 10,864 12,636 11,785 10,467 9,789 ============================================================================================================================== Interest, including interest on deposits $ 4,432 10,097 7,699 7,711 6,568 6,151 One-third of rents 73 135 106 109 106 104 Capitalized interest - - - - - 5 ------------------------------------------------------------------------------------------------------------------------------ Fixed charges $ 4,505 10,232 7,805 7,820 6,674 6,260 ============================================================================================================================== Consolidated ratios of earnings to fixed 1.39x 1.06x 1.62x 1.51x 1.57x 1.56x charges, including interest on deposits ==============================================================================================================================