EXHIBIT 12.1
SYNOVUS FINANCIAL CORP.
RATIO OF EARNINGS TO FIXED CHARGES
RATIO OF EARNINGS TO FIXED CHARGES
Three | ||||||||||||||||||||||||
Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
March 31, | Year Ended December 31, | |||||||||||||||||||||||
(in thousands) | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||
Ratio 1 — Including Interest on Deposits | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | (221,806 | ) | (652,421 | ) | 527,674 | 645,538 | 563,340 | 489,979 | |||||||||||||||
Fixed charges | 145,131 | 787,227 | 1,095,972 | 895,696 | 535,408 | 303,451 | ||||||||||||||||||
Total | $ | (76,675 | ) | 134,806 | 1,623,646 | 1,541,234 | 1,098,748 | 793,430 | ||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest on deposits | $ | 132,294 | 667,453 | 912,472 | 746,669 | 408,405 | 216,682 | |||||||||||||||||
Interest on short-term borrowings | 841 | 38,577 | 92,970 | 72,958 | 34,342 | 20,236 | ||||||||||||||||||
Interest on long-term debt | 10,019 | 73,657 | 84,014 | 71,050 | 88,299 | 62,571 | ||||||||||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 1,977 | 7,540 | 6,516 | 5,019 | 4,362 | 3,962 | ||||||||||||||||||
Total fixed charges | $ | 145,131 | 787,227 | 1,095,972 | 895,696 | 535,408 | 303,451 | |||||||||||||||||
Ratio of earnings to fixed charges | (0.53 | x) | 0.17 | x | 1.48 | x | 1.72 | x | 2.05 | x | 2.61 | x | ||||||||||||
Ratio 1 — Excluding Interest on Deposits | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | (221,806 | ) | (652,421 | ) | 527,674 | 645,538 | 563,340 | 489,979 | |||||||||||||||
Fixed charges | 12,837 | 119,774 | 183,500 | 149,027 | 127,003 | 86,769 | ||||||||||||||||||
Total | $ | (208,969 | ) | (532,647 | ) | 711,174 | 794,565 | 690,343 | 576,748 | |||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest on short-term borrowings | $ | 841 | 38,577 | 92,970 | 72,958 | 34,342 | 20,236 | |||||||||||||||||
Interest on long-term debt | 10,019 | 73,657 | 84,014 | 71,050 | 88,299 | 62,571 | ||||||||||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 1,977 | 7,540 | 6,516 | 5,019 | 4,362 | 3,962 | ||||||||||||||||||
Total fixed charges | $ | 12,837 | 119,774 | 183,500 | 149,027 | 127,003 | 86,769 | |||||||||||||||||
Ratio of earnings to fixed charges | (16.28 | x) | (4.45 | x) | 3.88 | x | 5.33 | x | 5.44 | x | 6.65 | x |