Exhibit 12 | |||||||||||||||||||
BB&T Corporation | |||||||||||||||||||
Earnings To Fixed Charges | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
(Dollars in millions) | |||||||||||||||||||
Earnings: | |||||||||||||||||||
Income before income taxes | $ | 3,500 | $ | 2,917 | $ | 3,127 | $ | 3,283 | $ | 2,945 | |||||||||
Plus: | |||||||||||||||||||
Fixed charges | 843 | 819 | 843 | 967 | 1,130 | ||||||||||||||
Distributions from equity method investees | 5 | 8 | 9 | 9 | 6 | ||||||||||||||
Less: | |||||||||||||||||||
Capitalized interest | 3 | 2 | 1 | — | — | ||||||||||||||
Income (loss) from equity method investees | (9 | ) | (3 | ) | — | 9 | 3 | ||||||||||||
Earnings | 4,354 | 3,745 | 3,978 | 4,250 | 4,078 | ||||||||||||||
Less: | |||||||||||||||||||
Interest on deposits | 251 | 233 | 239 | 301 | 429 | ||||||||||||||
Earnings, excluding interest on deposits | $ | 4,103 | $ | 3,512 | $ | 3,739 | $ | 3,949 | $ | 3,649 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 745 | $ | 735 | $ | 768 | $ | 891 | $ | 1,060 | |||||||||
Capitalized interest | 3 | 2 | 1 | — | — | ||||||||||||||
Interest portion of rent expense | 95 | 82 | 74 | 76 | 70 | ||||||||||||||
Total fixed charges | 843 | 819 | 843 | 967 | 1,130 | ||||||||||||||
Less: | |||||||||||||||||||
Interest on deposits | 251 | 233 | 239 | 301 | 429 | ||||||||||||||
Total fixed charges, excluding interest on deposits | 592 | 586 | 604 | 666 | 701 | ||||||||||||||
Dividends/accretion on preferred stock (1) | 239 | 203 | 210 | 222 | 90 | ||||||||||||||
Total fixed charges and preferred dividends | $ | 1,082 | $ | 1,022 | $ | 1,053 | $ | 1,189 | $ | 1,220 | |||||||||
Total fixed charges and preferred dividends, excluding interest on deposits | $ | 831 | $ | 789 | $ | 814 | $ | 888 | $ | 791 | |||||||||
Earnings to fixed charges: | |||||||||||||||||||
Including interest on deposits | 5.16x | 4.57x | 4.72x | 4.40x | 3.61x | ||||||||||||||
Excluding interest on deposits | 6.93x | 5.99x | 6.19x | 5.93x | 5.21x | ||||||||||||||
Earnings to fixed charges and preferred dividends: | |||||||||||||||||||
Including interest on deposits | 4.02x | 3.66x | 3.78x | 3.57x | 3.34x | ||||||||||||||
Excluding interest on deposits | 4.94x | 4.45x | 4.59x | 4.45x | 4.61x |
__________________
(1) | Dividends on preferred stock have been grossed up by the effective tax rate for the period. |