EX-12 4 ex12_68533.txt RATIO OF EARNINGS WACHOVIA CORPORATION RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12
Three Months Year Ended Ended March 31, December 31, (A) Excluding interest on deposits 2001 2000 ----------------- ----------------- Earnings: Income before income taxes $377,281 $1,275,530 Less capitalized interest 0 (812) Fixed charges 313,157 1,200,426 ----------------- ----------------- Earnings as adjusted $690,438 $2,475,144 ================= ================= Fixed charges: Interest on purchased and other short term borrowed funds $141,407 $559,336 Interest on long-term debt 165,096 614,134 Portion of rents representative of the interest factor (1/3) of rental expense 6,654 26,956 ----------------- ----------------- Fixed charges $313,157 $1,200,426 ================= ================= Ratio of earnings to fixed charges 2.20 X 2.06 X (B) Including interest on deposits: Adjusted earnings from (A) above $690,438 $2,475,144 Add interest on deposits 413,852 1,656,163 ----------------- ----------------- Earnings as adjusted $1,104,290 $4,131,307 ================= ================= Fixed charges: Fixed charges from (A) above $313,157 $1,200,426 Interest on deposits 413,852 1,656,163 ----------------- ----------------- Adjusted fixed charges $727,009 $2,856,589 ================= ================= Adjusted earnings to adjusted fixed 1.52 X 1.45 X charges