UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
November 19, 2003
Date of Report (Date of earliest event reported)
BB&T Corporation
(Exact name of registrant as specified in its charter)
Commission file number : 1-10853
| North Carolina | 56-0939887 |
| (State of incorporation) | (I.R.S. Employer Identification No.) |
| 200 West Second Street | |
| Winston-Salem, North Carolina | 27101 |
| (Address of principal executive offices) | (Zip Code) |
(336) 733-2000
(Registrant's telephone number, including area code)
This Form 8-K has 2 pages.
ITEM 5. Other Events
The purpose of this Current Report on Form 8-K is to file BB&T’s calculation of earnings to fixed charges.
Exhibit Index
Exhibit 12 Schedule of Earnings to Fixed Charges
Exhibit 12
BB&T Corporation
Earnings To Fixed Charges
(Dollars in thousands)
| For the Nine Months Ended | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| September 30, | For the Years Ended December 31, | |||||||||||||||||||||||||
| 2003 | 2002 | 2002 | 2001 | 2000 | 1999 | 1998 | ||||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||||
| Income before income taxes | $ | 1,058,702 | $ | 1,330,271 | $ | 1,790,697 | $ | 1,360,428 | $ | 1,013,006 | $ | 1,155,910 | $ | 1,064,818 | ||||||||||||
| Plus: | ||||||||||||||||||||||||||
| Fixed charges | 1,017,635 | 1,311,122 | 1,713,021 | 2,438,401 | 2,586,815 | 2,052,403 | 1,936,823 | |||||||||||||||||||
| Less: | ||||||||||||||||||||||||||
| Capitalized interest | 371 | 394 | 504 | 798 | 470 | 400 | -- | |||||||||||||||||||
| Earnings, including interest on | ||||||||||||||||||||||||||
| deposits | 2,075,966 | 2,640,999 | 3,503,214 | 3,798,031 | 3,599,351 | 3,207,913 | 3,001,641 | |||||||||||||||||||
| Less: | ||||||||||||||||||||||||||
| Interest on deposits | 584,297 | 772,037 | 1,003,058 | 1,566,269 | 1,685,248 | 1,370,334 | 1,365,693 | |||||||||||||||||||
| Earnings, excluding interest on | ||||||||||||||||||||||||||
| deposits | $ | 1,491,669 | $ | 1,868,962 | $ | 2,500,156 | $ | 2,231,762 | $ | 1,914,103 | $ | 1,837,579 | $ | 1,635,948 | ||||||||||||
| Fixed Charges: | ||||||||||||||||||||||||||
| Interest expense | $ | 996,923 | $ | 1,291,433 | $ | 1,686,584 | $ | 2,414,936 | $ | 2,563,912 | $ | 2,038,453 | $ | 1,928,441 | ||||||||||||
| Capitalized interest | 371 | 394 | 504 | 798 | 470 | 400 | -- | |||||||||||||||||||
| Interest portion of rent expense | 20,341 | 19,295 | 25,933 | 22,667 | 22,433 | 13,550 | 8,382 | |||||||||||||||||||
| Total Fixed Charges | $ | 1,017,635 | $ | 1,311,122 | $ | 1,713,021 | $ | 2,438,401 | $ | 2,586,815 | $ | 2,052,403 | $ | 1,936,823 | ||||||||||||
| Less: | ||||||||||||||||||||||||||
| Interest on deposits | 584,297 | 772,037 | 1,003,058 | 1,566,269 | 1,685,248 | 1,370,334 | 1,365,693 | |||||||||||||||||||
| Total fixed charges excluding | ||||||||||||||||||||||||||
| interest on deposits | $ | 433,338 | $ | 539,085 | $ | 709,963 | $ | 872,132 | $ | 901,567 | $ | 682,069 | $ | 571,130 | ||||||||||||
| Earnings to fixed charges: | ||||||||||||||||||||||||||
| Including interest on deposits | 2.04 | x | 2.01 | x | 2.05 | x | 1.56 | x | 1.39 | x | 1.56 | x | 1.55 | x | ||||||||||||
| Excluding interest on deposits | 3.44 | x | 3.47 | x | 3.52 | x | 2.56 | x | 2.12 | x | 2.69 | x | 2.86 | x | ||||||||||||
S I G N A T U R E
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BB&T CORPORATION | |||
| (Registrant) | |||
| By: /S/ EDWARD D. VEST | |||
| Edward D. Vest | |||
| Senior Vice President and Corporate Controller | |||
| (Principal Accounting Officer) | |||
| Date: November 19, 2003 | |||