EXHIBIT 12
Regions Financial Corporation
Computation of Ratio of Earnings to Fixed Charges
(from Continuing Operations)
(Unaudited)
Three Months Ended September 30(1) | Nine Months Ended September 30(2) | |||||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||||
(Amounts in millions) | ||||||||||||||
Excluding Interest on Deposits | ||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (651 | ) | $ | 96 | $ | (372 | ) | $ | 864 | ||||
Fixed charges excluding preferred stock dividends | 188 | 273 | 616 | 794 | ||||||||||
Income for computation excluding interest on deposits | (463 | ) | 369 | 244 | 1,658 | |||||||||
Interest expense excluding interest on deposits | 168 | 256 | 562 | 747 | ||||||||||
One-third of rent expense | 20 | 17 | 54 | 47 | ||||||||||
Preferred stock dividends | 60 | — | 167 | — | ||||||||||
Fixed charges including preferred stock dividends | 248 | 273 | 783 | 794 | ||||||||||
Ratio of earnings to fixed charges, excluding interest on deposits | (1.87 | ) | 1.35 | 0.31 | 2.09 | |||||||||
Including Interest on Deposits | ||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (651 | ) | $ | 96 | $ | (372 | ) | $ | 864 | ||||
Fixed charges excluding preferred stock dividends | 489 | 664 | 1,613 | 2,110 | ||||||||||
Income for computation including interest on deposits | (162 | ) | 760 | 1,241 | 2,974 | |||||||||
Interest expense including interest on deposits | 469 | 647 | 1,559 | 2,063 | ||||||||||
One-third of rent expense | 20 | 17 | 54 | 47 | ||||||||||
Preferred stock dividends | 60 | — | 167 | — | ||||||||||
Fixed charges including preferred stock dividends | 549 | 664 | 1,780 | 2,110 | ||||||||||
Ratio of earnings to fixed charges, including interest on deposits | (0.30 | ) | 1.15 | 0.70 | 1.41 |
(1) | For purposes of this computation, the recognized interest related to uncertain tax positions for the three months ended September 30, 2009 and 2008 of approximately $2 and $0 million, respectively, was excluded. |
(2) | For purposes of this computation, the recognized interest related to uncertain tax positions for the nine months ended September 30, 2009 and 2008 of approximately $2 and $1 million, respectively, was excluded. |