Exhibit 12 | |||||||||||||||||||
BB&T Corporation | |||||||||||||||||||
Earnings To Fixed Charges | |||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||
(Dollars in millions) | |||||||||||||||||||
Earnings: | |||||||||||||||||||
Income before income taxes | $ | 3,124 | $ | 2,792 | $ | 1,628 | $ | 969 | $ | 1,036 | |||||||||
Plus: | |||||||||||||||||||
Fixed charges | 967 | 1,130 | 1,442 | 1,855 | 2,108 | ||||||||||||||
Less: | |||||||||||||||||||
Noncontrolling interest | 50 | 49 | 43 | 38 | 24 | ||||||||||||||
Earnings | 4,041 | 3,873 | 3,027 | 2,786 | 3,120 | ||||||||||||||
Less: | |||||||||||||||||||
Interest on deposits | 301 | 429 | 610 | 917 | 1,271 | ||||||||||||||
Earnings, excluding interest on deposits | $ | 3,740 | $ | 3,444 | $ | 2,417 | $ | 1,869 | $ | 1,849 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 891 | $ | 1,060 | $ | 1,378 | $ | 1,795 | $ | 2,040 | |||||||||
Interest portion of rent expense | 76 | 70 | 64 | 60 | 68 | ||||||||||||||
Total fixed charges | 967 | 1,130 | 1,442 | 1,855 | 2,108 | ||||||||||||||
Less: | |||||||||||||||||||
Interest on deposits | 301 | 429 | 610 | 917 | 1,271 | ||||||||||||||
Total fixed charges excluding interest on deposits | 666 | 701 | 832 | 938 | 837 | ||||||||||||||
Dividends/accretion on preferred stock (1) | 211 | 87 | ― | ― | 146 | ||||||||||||||
Total fixed charges and preferred dividends | $ | 1,178 | $ | 1,217 | $ | 1,442 | $ | 1,855 | $ | 2,254 | |||||||||
Total fixed charges and preferred dividends, excluding interest on deposits | $ | 877 | $ | 788 | $ | 832 | $ | 938 | $ | 983 | |||||||||
Earnings to fixed charges: | |||||||||||||||||||
Including interest on deposits | 4.18x | 3.43x | 2.10x | 1.50x | 1.48x | ||||||||||||||
Excluding interest on deposits | 5.62x | 4.91x | 2.91x | 1.99x | 2.21x | ||||||||||||||
Earnings to fixed charges and preferred dividends: | |||||||||||||||||||
Including interest on deposits | 3.43x | 3.18x | 2.10x | 1.50x | 1.38x | ||||||||||||||
Excluding interest on deposits | 4.26x | 4.37x | 2.91x | 1.99x | 1.88x | ||||||||||||||
(1) | Dividends on preferred stock have been grossed up by the effective tax rate for the period. |