EXHIBIT 12(b)
WELLS FARGO & COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED DIVIDENDS
		Year ended December 31,
(in millions)		2016		2015	2014	2013	2012
Earnings including interest on deposits(1):
	Income before income tax expense	$	32,120	33,641	33,915	32,629	28,471
	Less: Net income from noncontrolling interests	107		382	551	346	471
	Income before income tax expense and after noncontrolling interests	32,013		33,259	33,364	32,283	28,000
	Fixed charges	6,325		4,378	4,415	4,673	5,511
		$	38,338	37,637	37,779	36,956	33,511
Preferred dividend requirement		1,566		1,426	1,235	1,017	898
Tax factor (based on effective tax rate)		1.46		1.45	1.30	1.48	1.48
Preferred dividends (2)		$	2,285	2,072	1,611	1,501	1,331
Fixed charges (1):
	Interest expense	$	5,909	3,976	4,025	4,289	5,161
	Estimated interest component of net rental expense	416		402	390	384	350
		6,325		4,378	4,415	4,673	5,511
	Fixed charges and preferred dividends	$	8,610	6,450	6,026	6,174	6,842
Ratio of earnings to fixed charges and preferred dividends (3)		4.45		5.84	6.27	5.99	4.90
Earnings excluding interest on deposits:
	Income before income tax expense and after noncontrolling interests	$	32,013	33,259	33,364	32,283	28,000
	Fixed charges	4,930		3,415	3,319	3,336	3,784
		$	36,943	36,674	36,683	35,619	31,784
Preferred dividends (2)		2,285		2,072	1,611	1,501	1,331
Fixed charges:
	Interest expense	$	5,909	3,976	4,025	4,289	5,161
	Less: Interest on deposits	1,395		963	1,096	1,337	1,727
	Estimated interest component of net rental expense	416		402	390	384	350
		4,930		3,415	3,319	3,336	3,784
	Fixed charges and preferred dividends	$	7,215	5,487	4,930	4,837	5,115
Ratio of earnings to fixed charges and preferred dividends (3)		5.12		6.68	7.44	7.36	6.21

(1) As defined in Item 503(d) of Regulation S-K.

(2) The preferred dividends were increased to amounts representing the pretax earnings that would be required to cover such dividend requirements.

(3) These computations are included herein in compliance with Securities and Exchange Commission regulations. However, management believes that fixed charge ratios are not meaningful measures for the business of the Company because of two factors. First, even if there was no change in net income, the ratios would decline with an increase in the proportion of income which is tax-exempt or, conversely, they would increase with a decrease in the proportion of income which is tax-exempt. Second, even if there was no change in net income, the ratios would decline if interest income and interest expense increase by the same amount due to an increase in the level of interest rates or, conversely, they would increase if interest income and interest expense decrease by the same amount due to a decrease in the level of interest rates.

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