EX-12.B 5 g14577qexv12wb.htm EXHIBIT (12)(B) Exhibit (12)(b)
Exhibit (12)(b)
WACHOVIA CORPORATION AND SUBSIDIARIES
COMPUTATIONS OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
 
                                                         
            Six        
            Months        
            Ended     Years Ended December 31,  
            June 30,                                
(In millions)        2008      2007     2006     2005     2004     2003  
 
EXCLUDING INTEREST ON DEPOSITS
                                                        
Pretax income (loss) from continuing operations
           $ (11,776 )     8,773       11,470       9,462       7,633       6,080  
Fixed charges, excluding preferred stock dividends and capitalized interest
             4,837       11,458       8,189       4,971       2,701       2,309  
 
Earnings (loss)
     (A)     $ (6,939 )     20,231       19,659       14,433       10,334       8,389  
 
Interest, excluding interest on deposits
           $ 4,666       11,140       7,897       4,711       2,474       2,113  
One-third of rents
             171       318       292       260       227       196  
Preferred stock dividends
             236       -       -       -       -       5  
Capitalized interest
             -       -       -       -       -       -  
 
Fixed charges (a)
     (B)     $ 5,073       11,458       8,189       4,971       2,701       2,314  
 
Consolidated ratios of earnings (loss) to fixed charges and preferred stock dividends, excluding interest on deposits
     (A)/(B)       (1.37) X      1.77       2.40       2.90       3.83       3.63  
 
INCLUDING INTEREST ON DEPOSITS
                                                        
Pretax income (loss) from continuing operations
           $ (11,776 )     8,773       11,470       9,462       7,633       6,080  
Fixed charges, excluding preferred stock dividends and capitalized interest
             9,954       24,419       17,308       10,268       5,554       4,669  
 
Earnings (loss)
     (C)     $ (1,822 )     33,192       28,778       19,730       13,187       10,749  
 
Interest, including interest on deposits
           $ 9,783       24,101       17,016       10,008       5,327       4,473  
One-third of rents
             171       318       292       260       227       196  
Preferred stock dividends
             236       -       -       -       -       5  
Capitalized interest
             -       -       -       -       -       -  
 
Fixed charges (a)
     (D)     $ 10,190       24,419       17,308       10,268       5,554       4,674  
 
Consolidated ratios of earnings (loss) to fixed charges and preferred stock dividends, including interest on deposits
     (C)/(D)       (0.18) X      1.36       1.66       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 Indebtedness of Others,” and 2) interest on uncertain income tax positions.