BB&T 2015 Annual Report Download - page 168

Exhibit 12
BB&T Corporation
Earnings To Fixed Charges (1)
Year Ended December 31,
2015 2014 2013 2012 2011
(Dollars in millions)
Earnings:
Income before income taxes $ 2,917 $ 3,127 $ 3,283 $ 2,945 $ 1,732
Plus:
Fixed charges 819 843 967 1,130 1,442
Distributions from equity method investees 8 9 9 6 7
Less:
Capitalized interest 2 1 ― ― ―
Income from equity method investees (3) ― 9 3 3
Earnings 3,745 3,978 4,250 4,078 3,178
Less:
Interest on deposits 233 239 301 429 610
Earnings, excluding interest on deposits $ 3,512 $ 3,739 $ 3,949 $ 3,649 $ 2,568
Fixed charges:
Interest expense $ 735 $ 768 $ 891 $ 1,060 $ 1,378
Capitalized interest 2 1 ― ― ―
Interest portion of rent expense 82 74 76 70 64
Total fixed charges 819 843 967 1,130 1,442
Less:
Interest on deposits 233 239 301 429 610
Total fixed charges excluding interest on deposits 586 604 666 701 832
Dividends/accretion on preferred stock (2) 203 210 222 90 ―
Total fixed charges and preferred dividends $ 1,022 $ 1,053 $ 1,189 $ 1,220 $ 1,442
Total fixed charges and preferred dividends, excluding interest on deposits $ 789 $ 814 $ 888 $ 791 $ 832
Earnings to fixed charges:
Including interest on deposits 4.57x 4.72x 4.40x 3.61x 2.20x
Excluding interest on deposits 5.99x 6.19x 5.93x 5.21x 3.09x
Earnings to fixed charges and preferred dividends:
Including interest on deposits 3.66x 3.78x 3.57x 3.34x 2.20x
Excluding interest on deposits 4.45x 4.59x 4.45x 4.61x 3.09x
(1) Prior periods have been revised to remove losses on equity method investees and to remove the adjustment for noncontrolling in™terests that incurred
fixed charges.
(2) Dividends on preferred stock have been grossed up by the effective tax rate for the period.
Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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