EXHIBIT 12.1
SYNOVUS FINANCIAL CORP.
RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended March 31, 2011 | Years Ended December 31, | |||||||||||||||||||||||
(dollars in thousands) | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
Ratio 1 – Including Interest on Deposits | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
(Loss) income from continuing operations before income taxes | $ | (79,864 | ) | (849,170 | ) | (1,605,908 | ) | (660,806 | ) | 520,035 | 638,335 | |||||||||||||
Fixed charges | 64,958 | 342,674 | 506,873 | 787,227 | 1,095,972 | 895,696 | ||||||||||||||||||
Total | $ | (14,906 | ) | (506,496 | ) | (1,099,035 | ) | 126,421 | 1,616,007 | 1,534,031 | ||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest on deposits | $ | 49,564 | 288,327 | 456,247 | 667,453 | 912,472 | 746,669 | |||||||||||||||||
Interest on short-term borrowings | 297 | 1,921 | 3,841 | 38,577 | 92,970 | 72,958 | ||||||||||||||||||
Interest on long-term debt | 11,138 | 44,000 | 38,791 | 73,657 | 84,014 | 71,050 | ||||||||||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 3,959 | 8,426 | 7,994 | 7,540 | 6,516 | 5,019 | ||||||||||||||||||
Total fixed charges | $ | 64,958 | 342,674 | 506,873 | 787,227 | 1,095,972 | 895,696 | |||||||||||||||||
Ratio of earnings to fixed charges | (0.23x | ) | (1.48x | ) | (2.17x | ) | 0.16x | 1.47x | 1.71x | |||||||||||||||
Ratio 1 – Excluding Interest on Deposits | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
(Loss) income from continuing operations before income taxes | $ | (79,864 | ) | (849,170 | ) | (1,605,908 | ) | (660,806 | ) | 520,035 | 638,335 | |||||||||||||
Fixed charges | 15,394 | 54,347 | 50,626 | 119,774 | 183,500 | 149,027 | ||||||||||||||||||
Total | $ | (64,470 | ) | (794,823 | ) | (1,555,282 | ) | (541,032 | ) | 703,535 | 787,362 | |||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest on short-term borrowings | $ | 297 | 1,921 | 3,841 | 38,577 | 92,970 | 72,958 | |||||||||||||||||
Interest on long-term debt | 11,138 | 44,000 | 38,791 | 73,657 | 84,014 | 71,050 | ||||||||||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 3,959 | 8,426 | 7,994 | 7,540 | 6,516 | 5,019 | ||||||||||||||||||
Total fixed charges | $ | 15,394 | 54,347 | 50,626 | 119,774 | 183,500 | 149,027 | |||||||||||||||||
Ratio of earnings to fixed charges | (4.19x | ) | (14.62x | ) | (30.72x | ) | (4.52x | ) | 3.83x | 5.28x |