EXHIBIT 12
Regions Financial Corporation
Computation of Ratio of Earnings to Fixed Charges
(from continuing operations)
(Unaudited)
December 31, | |||||||||||||||
2007(1) | 2006 | 2005 | 2004 | 2003 | |||||||||||
(Amounts in thousands) | |||||||||||||||
Income from continuing operations | $ | 1,393,163 | $ | 1,372,521 | $ | 962,707 | $ | 789,743 | $ | 617,438 | |||||
Provision for income taxes from continuing operations | 645,687 | 619,100 | 395,861 | 330,478 | 239,866 | ||||||||||
Income before income taxes from continuing operations | $ | 2,038,850 | $ | 1,991,621 | $ | 1,358,568 | $ | 1,120,221 | $ | 857,304 | |||||
Interest on nondeposit interest-bearing liabilities | 1,012,414 | 660,649 | 485,029 | 346,024 | 314,179 | ||||||||||
Interest portion of rent expense from continuing operations | 65,042 | 35,411 | 29,606 | 20,550 | 13,913 | ||||||||||
Total income for computation excluding interest on deposits | 3,116,306 | 2,687,681 | 1,873,203 | 1,486,795 | 1,185,396 | ||||||||||
Interest on deposits | 2,663,883 | 1,680,167 | 1,004,727 | 496,627 | 430,353 | ||||||||||
Total income for computation including interest on deposits | $ | 5,780,189 | $ | 4,367,848 | $ | 2,877,930 | $ | 1,983,422 | $ | 1,615,749 | |||||
Fixed charges excluding interest on deposits | $ | 1,077,456 | $ | 696,060 | $ | 514,635 | $ | 366,574 | $ | 328,092 | |||||
Fixed charges including interest on deposits | $ | 3,741,339 | $ | 2,376,227 | $ | 1,519,362 | $ | 863,201 | $ | 758,445 | |||||
Ratio excluding interest on deposits | 2.89 | 3.86 | 3.64 | 4.06 | 3.61 | ||||||||||
Ratio including interest on deposits | 1.54 | 1.84 | 1.89 | 2.30 | 2.13 | ||||||||||
Components of fixed charges: | |||||||||||||||
Interest: | |||||||||||||||
Interest on deposits | $ | 2,663,883 | $ | 1,680,167 | $ | 1,004,727 | $ | 496,627 | $ | 430,353 | |||||
Interest on nondeposit interest-bearing liabilities | 1,012,414 | 660,649 | 485,029 | 346,024 | 314,179 | ||||||||||
Total interest charges | $ | 3,676,297 | $ | 2,340,816 | $ | 1,489,756 | $ | 842,651 | $ | 744,532 | |||||
Rental expense | $ | 195,126 | $ | 106,232 | $ | 88,818 | $ | 61,650 | $ | 41,738 | |||||
Portion of rental expense deemed representative of interest | $ | 65,042 | $ | 35,411 | $ | 29,606 | $ | 20,550 | $ | 13,913 |
(1) | For purposes of this computation, the recognized interest related to uncertain tax positions for the year ended December 31, 2007 of approximately $82 million was excluded. |