WELLS FARGO FINANCIAL,INC.

 

Computation of Ratios ofEarnings to Fixed Charges

 

Exhibit 12

 

 
|                                                                       |   | **Years  Ended December 31,** |            |
|----------------------------------------------------------------------------|--------|-------------------------------|-----------------|
|                                                                       |   | **2001**                      |            | **2000** |   | **1999** |   | **1998** |   | **1997** |   |
|                                                                       |   | **(Thousands of Dollars)**    |            |
| Net earnings                                                               |   | $                             | 264,817         |   | $ | 241,054 |   | $ | 265,361 |   | $ | 238,604 |   | $ | 269,450 |   |
|                                                                       |   |                          |            |   |   |   |   |   |   |   |   |
| Add:                                                                       |   |                          |            |   |   |   |   |   |   |   |   |
|                                                                       |   |                          |            |   |   |   |   |   |   |   |   |
| Fixed charges:                                                             |   |                          |            |   |   |   |   |   |   |   |   |
|                                                                       |   |                          |            |   |   |   |   |   |   |   |   |
| Interest  including amortization of debt expense                           |   | 685,014                       |            | 639,444 |   | 520,063 |   | 485,784 |   | 401,736 |   |
|                                                                       |   |                          |            |   |   |   |   |   |   |   |   |
| One third of  rentals*                                                     |   | 13,410                        |            | 12,844 |   | 13,974 |   | 13,406 |   | 12,107 |   |
|                                                                       |   |                          |            |   |   |   |   |   |   |   |   |
| Total fixed  charges                                                       |   | 698,424                       |            | 652,288 |   | 534,037 |   | 499,190 |   | 413,843 |   |
|                                                                       |   |                          |            |   |   |   |   |   |   |   |   |
| Provision for  income taxes                                                |   | 158,873                       |            | 138,834 |   | 149,190 |   | 121,668 |   | 144,082 |   |
|                                                                       |   |                          |            |   |   |   |   |   |   |   |   |
| Total net earnings,  fixed charges and income taxes - “Earnings” |   | $                             |  1,122,114 |   | $ |  1,032,176 |   | $ |  948,588 |   | $ |  859,462 |   | $ |  827,375 |   |
|                                                                       |   |                          |            |   |   |   |   |   |   |   |   |
| Ratio of  earnings to fixed charges                                        |   | 1.61                          |            | 1.58 |   | 1.78 |   | 1.72 |   | 2.00 |   |

 

 

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*      One-third of rentals is deemedrepresentative of the interest factor.