EXHIBIT 12
Regions Financial Corporation
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
December 31, | |||||||||||||||
(amounts in thousands) | 2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||
Net income | $ | 1,353,145 | $ | 1,000,544 | $ | 823,765 | $ | 651,841 | $ | 619,902 | |||||
Provision for income taxes | 605,870 | 421,551 | 351,817 | 259,731 | 249,338 | ||||||||||
Income before income taxes | $ | 1,959,015 | $ | 1,422,095 | $ | 1,175,582 | $ | 911,572 | $ | 869,240 | |||||
Interest on nondeposit interest bearing liabilities | 660,649 | 485,029 | 346,024 | 314,179 | 386,636 | ||||||||||
Interest portion of rent expense | 36,787 | 30,756 | 21,349 | 14,453 | 14,319 | ||||||||||
Total income for computation excluding interest on deposits | 2,656,451 | 1,937,880 | 1,542,955 | 1,240,204 | 1,270,195 | ||||||||||
Interest on deposits | 1,680,167 | 1,004,727 | 496,627 | 430,353 | 652,765 | ||||||||||
Total income for computation including interest on deposits | $ | 4,336,618 | $ | 2,942,607 | $ | 2,039,582 | $ | 1,670,557 | $ | 1,922,960 | |||||
Fixed charges excluding interest on deposits | $ | 697,436 | $ | 515,785 | $ | 367,373 | $ | 328,632 | $ | 400,955 | |||||
Fixed charges including interest on deposits | $ | 2,377,603 | $ | 1,520,512 | $ | 864,000 | $ | 758,985 | $ | 1,053,720 | |||||
Ratio excluding interest on deposits | 3.81 | 3.76 | 4.20 | 3.77 | 3.17 | ||||||||||
Ratio including interest on deposits | 1.82 | 1.94 | 2.36 | 2.20 | 1.82 | ||||||||||
Components of fixed charges: | |||||||||||||||
Interest: | |||||||||||||||
Interest on deposits | $ | 1,680,167 | $ | 1,004,727 | $ | 496,627 | $ | 430,353 | $ | 652,765 | |||||
Interest on nondeposit interest bearing liabilities | 660,649 | 485,029 | 346,024 | 314,179 | 386,636 | ||||||||||
Total interest charges | $ | 2,340,816 | $ | 1,489,756 | $ | 842,651 | $ | 744,532 | $ | 1,039,401 | |||||
Rental expense | $ | 110,360 | $ | 92,269 | $ | 64,046 | $ | 43,360 | $ | 42,956 | |||||
Portion of rental expense deemed representative of interest | $ | 36,787 | $ | 30,756 | $ | 21,349 | $ | 14,453 | $ | 14,319 |