Exhibit 12 | |||||||||||||||||||
BB&T Corporation | |||||||||||||||||||
Earnings To Fixed Charges | |||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||
(Dollars in millions) | |||||||||||||||||||
Earnings: | |||||||||||||||||||
Income before income taxes | $ | 2,792 | $ | 1,628 | $ | 969 | $ | 1,036 | $ | 2,079 | |||||||||
Plus: | |||||||||||||||||||
Fixed charges | 1,130 | 1,442 | 1,855 | 2,108 | 3,023 | ||||||||||||||
Less: | |||||||||||||||||||
Noncontrolling interest | 49 | 43 | 38 | 24 | 10 | ||||||||||||||
Capitalized interest | ― | ― | ― | ― | 2 | ||||||||||||||
Earnings | 3,873 | 3,027 | 2,786 | 3,120 | 5,090 | ||||||||||||||
Less: | |||||||||||||||||||
Interest on deposits | 429 | 610 | 917 | 1,271 | 1,891 | ||||||||||||||
Earnings, excluding interest on deposits | $ | 3,444 | $ | 2,417 | $ | 1,869 | $ | 1,849 | $ | 3,199 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 1,060 | $ | 1,378 | $ | 1,795 | $ | 2,040 | $ | 2,969 | |||||||||
Capitalized interest | ― | ― | ― | ― | 2 | ||||||||||||||
Interest portion of rent expense | 70 | 64 | 60 | 68 | 52 | ||||||||||||||
Total fixed charges | 1,130 | 1,442 | 1,855 | 2,108 | 3,023 | ||||||||||||||
Less: | |||||||||||||||||||
Interest on deposits | 429 | 610 | 917 | 1,271 | 1,891 | ||||||||||||||
Total fixed charges excluding interest on deposits | 701 | 832 | 938 | 837 | 1,132 | ||||||||||||||
Dividends/accretion on preferred stock (1) | 87 | ― | ― | 146 | 29 | ||||||||||||||
Total fixed charges and preferred dividends | $ | 1,217 | $ | 1,442 | $ | 1,855 | $ | 2,254 | $ | 3,052 | |||||||||
Total fixed charges and preferred dividends, excluding interest on deposits | $ | 788 | $ | 832 | $ | 938 | $ | 983 | $ | 1,161 | |||||||||
Earnings to fixed charges: | |||||||||||||||||||
Including interest on deposits | 3.43x | 2.10x | 1.50x | 1.48x | 1.68x | ||||||||||||||
Excluding interest on deposits | 4.91x | 2.91x | 1.99x | 2.21x | 2.83x | ||||||||||||||
Earnings to fixed charges and preferred dividends: | |||||||||||||||||||
Including interest on deposits | 3.18x | 2.10x | 1.50x | 1.38x | 1.67x | ||||||||||||||
Excluding interest on deposits | 4.37x | 2.91x | 1.99x | 1.88x | 2.76x | ||||||||||||||
(1) | Dividends on preferred stock have been grossed up by the effective tax rate for the period. |