**Exhibit(12)**

 

WELLS FARGO FINANCIAL,INC.

 

COMPUTATION OF RATIOS OFEARNINGS TO FIXED CHARGES

 

 
|                                                                               |   | **Three**     |       |                          |       |      |       |     |       |     |       |     |       |
|------------------------------------------------------------------------------------|--------|---------------|------------|-------------------------------|------------|-----------|------------|----------|------------|----------|------------|----------|------------|
|                                                                               |   | **Months**    |       |                          |       |      |       |     |       |     |       |     |       |
|                                                                               |   | **Ended**     |       |                          |       |      |       |     |       |     |       |     |       |
|                                                                               |   | **March 31,** |       |                          |       |      |       |     |       |     |       |     |       |
|                                                                               |   | **2002**      | ** ** | **Years  Ended December 31,** | ** ** |
|                                                                               |   |          |       | **(Thousands  of Dollars )**  | ** ** |
|                                                                               |   |          | ** ** |                          | ** ** |      | ** ** |     | ** ** |     | ** ** |     | ** ** |
|                                                                               |   |          |       | **2001**                      |       | **2000**  |       | **1999** |       | **1998** |       | **1997** |       |
|                                                                               |   |          |       |                          |       |      |       |     |       |     |       |     |       |
| Net income                                                                         |   | $             | 78,907     |                          | $          | 264,817   |       | $        | 241,054    |     | $          | 265,361  |       | $ | 238,604 |   | $ | 269,450 |   |
|                                                                               |   |          |       |                          |       |      |       |     |       |     |       |     |       |
| Add:                                                                               |   |          |       |                          |       |      |       |     |       |     |       |     |       |
|                                                                               |   |          |       |                          |       |      |       |     |       |     |       |     |       |
| Fixed charges:                                                                     |   |          |       |                          |       |      |       |     |       |     |       |     |       |
|                                                                               |   |          |       |                          |       |      |       |     |       |     |       |     |       |
| Interest  including amortization of  debt expense                                  |   | 142,600       |       | 685,014                       |       | 639,444   |       | 520,063  |       | 485,784  |       | 401,736  |       |
|                                                                               |   |          |       |                          |       |      |       |     |       |     |       |     |       |
| One-third of  rentals*                                                             |   | 3,539         |       | 13,410                        |       | 12,844    |       | 13,974   |       | 13,406   |       | 12,107   |       |
|                                                                               |   |          |       |                          |       |      |       |     |       |     |       |     |       |
| Total fixed  charges                                                               |   | 146,139       |       | 698,424                       |       | 652,288   |       | 534,037  |       | 499,190  |       | 413,843  |       |
|                                                                               |   |          |       |                          |       |      |       |     |       |     |       |     |       |
| Provision for                                                                      |   |          |       |                          |       |      |       |     |       |     |       |     |       |
| income taxes                                                                       |   | 45,160        |       | 158,873                       |       | 138,834   |       | 149,190  |       | 121,668  |       | 144,082  |       |
|                                                                               |   |          |       |                          |       |      |       |     |       |     |       |     |       |
| Total net  earnings,  fixed charges and  income taxes —  “Earnings” |   | $             | 270,206    |                          | $          | 1,122,114 |       | $        | 1,032,176  |     | $          | 948,588  |       | $ | 859,462 |   | $ | 827,375 |   |
|                                                                               |   |          |       |                          |       |      |       |     |       |     |       |     |       |
| Ratio of  earnings  to fixed charges                                               |   | 1.85          |       | 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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