EX-12 5 dex12.txt SCHEDULE WACHOVIA CORPORATION RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12
Six Months Year Ended Ended June 30, December 31, (A) Excluding interest on deposits 2001 2000 ----------------- ----------------- Earnings: Income before income taxes $756,522 $1,275,530 Less capitalized interest 0 (812) Fixed charges 561,257 1,200,426 ----------------- ----------------- Earnings as adjusted $1,317,779 $2,475,144 ================= ================= Fixed charges: Interest on purchased and other short term borrowed funds $249,986 $559,336 Interest on long-term debt 297,960 614,134 Portion of rents representative of the interest factor (1/3) of rental expense 13,311 26,956 ----------------- ----------------- Fixed charges $561,257 $1,200,426 ================= ================= Ratio of earnings to fixed charges 2.35 X 2.06 X (B) Including interest on deposits: Adjusted earnings from (A) above $1,317,779 $2,475,144 Add interest on deposits 789,855 1,656,163 ----------------- ----------------- Earnings as adjusted $2,107,634 $4,131,307 ================= ================= Fixed charges: Fixed charges from (A) above $561,257 $1,200,426 Interest on deposits 789,855 1,656,163 ----------------- ----------------- Adjusted fixed charges $1,351,112 $2,856,589 ================= ================= Adjusted earnings to adjusted fixed 1.56 X 1.45 X charges