EX-12 5 g72639ex12.txt COMPUTATIONS OF CONSOLIDATED RATIOS EXHIBIT (12) WACHOVIA CORPORATION AND SUBSIDIARIES COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
------------------------------------------------------------------------------------------------------------------------- NINE MONTHS Years Ended December 31, ENDED -------------------------------------------------------- SEPT. 30, (In millions) 2001 2000 1999 1998 1997 1996 ------------------------------------------------------------------------------------------------------------------------- EXCLUDING INTEREST ON DEPOSITS Pretax income from continuing operations $ 1,212 632 4,831 3,965 3,793 3,534 Fixed charges, excluding capitalized interest 2,929 4,963 3,751 3,504 2,526 2,224 ------------------------------------------------------------------------------------------------------------------------- Earnings (A) $ 4,141 5,595 8,582 7,469 6,319 5,758 ========================================================================================================================= Interest, excluding interest on deposits $ 2,818 4,828 3,645 3,395 2,420 2,120 One-third of rents 111 135 106 109 106 104 Capitalized interest - - - - - 5 ------------------------------------------------------------------------------------------------------------------------- Fixed charges (B) $ 2,929 4,963 3,751 3,504 2,526 2,229 ========================================================================================================================= Consolidated ratios of earnings to fixed charges, excluding interest on deposits (A)/(B) 1.41 X 1.13 2.29 2.13 2.50 2.58 ========================================================================================================================= INCLUDING INTEREST ON DEPOSITS Pretax income from continuing operations $ 1,212 632 4,831 3,965 3,793 3,534 Fixed charges, excluding capitalized interest 6,557 10,232 7,805 7,820 6,674 6,255 ------------------------------------------------------------------------------------------------------------------------- Earnings (C) $ 7,769 10,864 12,636 11,785 10,467 9,789 ========================================================================================================================= Interest, including interest on deposits $ 6,446 10,097 7,699 7,711 6,568 6,151 One-third of rents 111 135 106 109 106 104 Capitalized interest - - - - - 5 ------------------------------------------------------------------------------------------------------------------------- Fixed charges (D) $ 6,557 10,232 7,805 7,820 6,674 6,260 ========================================================================================================================= Consolidated ratios of earnings to fixed charges, including interest on deposits (C)/(D) 1.18 X 1.06 1.62 1.51 1.57 1.56 =========================================================================================================================