EXHIBIT 12
Regions Financial Corporation
Computation of Ratio of Earnings to Fixed Charges
(from Continuing Operations)
(Unaudited)
| (Amounts in thousands) | Three Months Ended September 30 | Nine Months Ended September 30 | ||||||||||
| 2007 (3) | 2006 | 2007 (2) | 2006 | |||||||||
Income from continuing operations | $ | 394,240 | $ | 357,922 | $ | 1,322,048 | $ | 1,000,526 | ||||
Provision for income taxes from continuing operations | 179,291 | 156,575 | 645,868 | 444,400 | ||||||||
Income before income taxes from continuing operations | $ | 573,531 | $ | 514,497 | $ | 1,967,916 | $ | 1,444,926 | ||||
Interest on nondeposit interest bearing liabilities | 259,754 | 150,744 | 748,058 | 434,466 | ||||||||
Interest portion of rent expense from continuing operations | 21,283 | 7,473 | 50,386 | 22,504 | ||||||||
Total income for computation excluding interest on deposits | 854,568 | 672,714 | 2,766,360 | 1,901,896 | ||||||||
Interest on deposits | 673,585 | 411,178 | 2,038,283 | 1,082,912 | ||||||||
Total income for computation including interest on deposits | $ | 1,528,153 | $ | 1,083,892 | $ | 4,804,643 | $ | 2,984,808 | ||||
Fixed charges excluding interest on deposits | $ | 281,037 | $ | 158,217 | $ | 798,444 | $ | 456,970 | ||||
Fixed charges including interest on deposits | $ | 954,622 | $ | 569,395 | $ | 2,836,727 | $ | 1,539,882 | ||||
Ratio excluding interest on deposits(1) | 3.04 | 4.25 | 3.46 | 4.16 | ||||||||
Ratio including interest on deposits | 1.60 | 1.90 | 1.69 | 1.94 | ||||||||
Components of fixed charges: | ||||||||||||
Interest: | ||||||||||||
Interest on deposits | $ | 673,585 | $ | 411,178 | $ | 2,038,283 | $ | 1,082,912 | ||||
Interest on nondeposit interest bearing liabilities | 259,753 | 150,744 | 748,058 | 434,466 | ||||||||
Total interest charges | $ | 933,339 | $ | 561,922 | $ | 2,786,341 | $ | 1,517,378 | ||||
Rental expense | $ | 63,849 | $ | 22,418 | $ | 151,158 | $ | 67,511 | ||||
Portion of rental expense deemed representative of interest | $ | 21,283 | $ | 7,473 | $ | 50,386 | $ | 22,504 | ||||
| (1) | For purposes of computing the ratio of earnings to fixed charges, earnings as adjusted consists of income (loss) before income taxes plus fixed charges. Fixed charges, excluding interest on deposits, consists of interest and debt expense, amortization of deferred debt costs, and the estimated interest portion of rent expense. |
| (2) | For purposes of this computation, the recognized interest related to uncertain tax positions of approximately $62 million was excluded. |
| (3) | For purposes of this computation, the recognized interest related to uncertain tax positions of approximately $14 million was excluded. |