EX-12.A 3 g11813exv12wa.htm EXHIBIT (12)(A) Exhibit (12)(a)
 

 
Exhibit (12)(a)
 
WACHOVIA CORPORATION AND SUBSIDIARIES
COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
 
                                             
        Years Ended December 31,  
(In millions)       2007     2006     2005     2004     2003  
EXCLUDING INTEREST
ON DEPOSITS
                                           
Pretax income from continuing
operations
      $        8,773       11,470       9,462       7,633       6,080  
Fixed charges, excluding capitalized
interest
        11,458       8,189       4,971       2,701       2,309  
                                             
Earnings
  (A)   $ 20,231       19,659       14,433       10,334       8,389  
                                             
Interest, excluding interest on deposits
      $ 11,140       7,897       4,711       2,474       2,113  
One-third of rents
        318       292       260       227       196  
Capitalized interest
        -       -       -       -       -  
                                             
Fixed charges (a)
  (B)   $ 11,458       8,189       4,971       2,701       2,309  
                                             
Consolidated ratios of earnings to
fixed charges, excluding interest
on deposits
  (A)/(B)     1.77  X     2.40  X     2.90       3.83       3.63  
                                             
INCLUDING INTEREST
ON DEPOSITS
                                           
Pretax income from continuing
operations
      $ 8,773       11,470       9,462       7,633       6,080  
Fixed charges, excluding capitalized
interest
        24,419       17,308       10,268       5,554       4,669  
                                             
Earnings
  (C)   $ 33,192       28,778       19,730       13,187       10,749  
                                             
Interest, including interest on deposits
      $ 24,101       17,016       10,008       5,327       4,473  
One-third of rents
        318       292       260       227       196  
Capitalized interest
        -       -       -       -       -  
                                             
Fixed charges (a)
  (D)   $ 24,419       17,308       10,268       5,554       4,669  
                                             
Consolidated ratios of earnings to
fixed charges, including interest
on deposits
  (C)/(D)     1.36  X     1.66  X     1.92       2.37       2.30  
                                             
 
                                           
 
(a) Fixed charges do not include: 1) other obligations which exist under Financial Accounting Standards Board Interpretation No. 45, “Guarantor’s Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Others,” and 2) interest on uncertain income tax positions.