EXHIBIT 12
Regions Financial Corporation
Computation of Ratio of Earnings to Fixed Charges
(from continuing operations)
(Unaudited)
December 31 | |||||||||||||||||
2009(1) | 2008(1) | 2007(1) | 2006 | 2005 | |||||||||||||
(Amounts in thousands) | |||||||||||||||||
Excluding Interest on Deposits | |||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (1,202 | ) | $ | (5,933 | ) | $ | 2,039 | $ | 1,992 | $ | 1,359 | |||||
Fixed charges excluding preferred stock dividends | 791 | 1,061 | 1,077 | 696 | 515 | ||||||||||||
Income (loss) for computation excluding interest on deposits | (411 | ) | (4,872 | ) | 3,116 | 2,688 | 1,874 | ||||||||||
Interest expense excluding interest on deposits | 720 | 996 | 1,012 | 661 | 485 | ||||||||||||
One-third of rent expense | 71 | 65 | 65 | 35 | 30 | ||||||||||||
Preferred stock dividends | 230 | 26 | — | — | — | ||||||||||||
Fixed charges including preferred stock dividends | 1,021 | 1,087 | 1,077 | 696 | 515 | ||||||||||||
Ratio of earnings to fixed charges, excluding interest on deposits | (0.40 | ) | (4.48 | ) | 2.89 | 3.86 | 3.64 | ||||||||||
Including Interest on Deposits | |||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (1,202 | ) | $ | (5,933 | ) | $ | 2,039 | $ | 1,992 | $ | 1,359 | |||||
Fixed charges excluding preferred stock dividends | 2,068 | 2,785 | 3,741 | 2,376 | 1,519 | ||||||||||||
Income (loss) for computation including interest on deposits | 866 | (3,148 | ) | 5,780 | 4,368 | 2,878 | |||||||||||
Interest expense including interest on deposits | 1,997 | 2,720 | 3,676 | 2,341 | 1,490 | ||||||||||||
One-third of rent expense | 71 | 65 | 65 | 35 | 30 | ||||||||||||
Preferred stock dividends | 230 | 26 | — | — | — | ||||||||||||
Fixed charges including preferred stock dividends | 2,298 | 2,811 | 3,741 | 2,376 | 1,520 | ||||||||||||
Ratio of earnings to fixed charges, including interest on deposits | 0.38 | (1.12 | ) | 1.54 | 1.84 | 1.89 |
(1) | For purposes of this computation, the recognized interest related to uncertain tax positions for the years ended December 31, 2009, 2008, and 2007 of approximately $5 million, $31 million, and $82 million, respectively, was excluded. |