**Exhibit(12)**

 

WELLS FARGO FINANCIAL,INC.

 

COMPUTATION OF RATIOS OFEARNINGS TO FIXED CHARGES

 

 

 
|                                                                       |   | **Nine  Months  Ended  September 30,  2002** |    | **Years  Ended December 31,** |   |
|----------------------------------------------------------------------------|--------|----------------------------------------------|---------|-------------------------------|--------|
|                                                                       |   |                                         |    | **(Thousands  of Dollars)**   |   |
|                                                                       |   |                                         |    | **2001**                      |   | **2000** |   | **1999** |   | **1998** |   | **1997** |   |
|                                                                       |   |                                         |    |                          |   |   |   |   |   |   |   |   |   |
| Net income                                                                 |   | $                                            | 247,726 |                          | $      | 264,817 |   | $ | 241,054 |   | $ | 265,361 |   | $ | 238,604 |   | $ | 269,450 |   |
|                                                                       |   |                                         |    |                          |   |   |   |   |   |   |   |   |   |
| Add:                                                                       |   |                                         |    |                          |   |   |   |   |   |   |   |   |   |
|                                                                       |   |                                         |    |                          |   |   |   |   |   |   |   |   |   |
| Fixed charges:                                                             |   |                                         |    |                          |   |   |   |   |   |   |   |   |   |
|                                                                       |   |                                         |    |                          |   |   |   |   |   |   |   |   |   |
| Interest  including amortization of debt expense                           |   | 478,930                                      |    | 685,014                       |   | 639,444 |   | 520,063 |   | 485,784 |   | 401,736 |   |
|                                                                       |   |                                         |    |                          |   |   |   |   |   |   |   |   |   |
| One-third of  rentals*                                                     |   | 10,766                                       |    | 13,410                        |   | 12,844 |   | 13,974 |   | 13,406 |   | 12,107 |   |
|                                                                       |   |                                         |    |                          |   |   |   |   |   |   |   |   |   |
| Total fixed  charges                                                       |   | 489,696                                      |    | 698,424                       |   | 652,288 |   | 534,037 |   | 499,190 |   | 413,843 |   |
|                                                                       |   |                                         |    |                          |   |   |   |   |   |   |   |   |   |
| Provision for  income taxes                                                |   | 144,467                                      |    | 158,873                       |   | 138,834 |   | 149,190 |   | 121,668 |   | 144,082 |   |
|                                                                       |   |                                         |    |                          |   |   |   |   |   |   |   |   |   |
| Total net  earnings, fixed charges and income taxes - “Earnings” |   | $                                            | 881,889 |                          | $      | 1,122,114 |   | $ | 1,032,176 |   | $ | 948,588 |   | $ | 859,462 |   | $ | 827,375 |   |
|                                                                       |   |                                         |    |                          |   |   |   |   |   |   |   |   |   |
| Ratio of  earnings to fixed charges                                        |   | 1.80                                         |    | 1.61                          |   | 1.58 |   | 1.78 |   | 1.72 |   | 2.00 |   |

 

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*One-third of rentals is deemed representative of the interest factor.

 

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