EXHIBIT 12.1
SYNOVUS FINANCIAL CORP.
RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended September 30, 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 | $ | (86,510 | ) | (849,170 | ) | (1,605,908 | ) | (660,806 | ) | 520,035 | 638,335 | |||||||||||||
Fixed charges | 178,748 | 342,674 | 506,873 | 787,227 | 1,095,972 | 895,696 | ||||||||||||||||||
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Total | $ | 92,238 | (506,496 | ) | (1,099,035 | ) | 126,421 | 1,616,007 | 1,534,031 | |||||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest on deposits | $ | 138,086 | 288,327 | 456,247 | 667,453 | 912,472 | 746,669 | |||||||||||||||||
Interest on short-term borrowings | 850 | 1,921 | 3,841 | 38,577 | 92,970 | 72,958 | ||||||||||||||||||
Interest on long-term debt | 32,519 | 44,000 | 38,791 | 73,657 | 84,014 | 71,050 | ||||||||||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 7,293 | 8,426 | 7,994 | 7,540 | 6,516 | 5,019 | ||||||||||||||||||
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Total fixed charges | $ | 178,748 | 342,674 | 506,873 | 787,227 | 1,095,972 | 895,696 | |||||||||||||||||
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Ratio of earnings to fixed charges | 0.52 | x | (1.48 | x) | (2.17 | x) | 0.16 | x | 1.47 | x | 1.71x | |||||||||||||
Ratio 2 – Excluding Interest on Deposits | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
(Loss) income from continuing operations before income taxes | $ | (86,510 | ) | (849,170 | ) | (1,605,908 | ) | (660,806 | ) | 520,035 | 638,335 | |||||||||||||
Fixed charges | 40,662 | 54,347 | 50,626 | 119,774 | 183,500 | 149,027 | ||||||||||||||||||
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Total | $ | (45,848 | ) | (794,823 | ) | (1,555,282 | ) | (541,032 | ) | 703,535 | 787,362 | |||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest on short-term borrowings | $ | 850 | 1,921 | 3,841 | 38,577 | 92,970 | 72,958 | |||||||||||||||||
Interest on long-term debt | 32,519 | 44,000 | 38,791 | 73,657 | 84,014 | 71,050 | ||||||||||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 7,293 | 8,426 | 7,994 | 7,540 | 6,516 | 5,019 | ||||||||||||||||||
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Total fixed charges | $ | 40,662 | 54,347 | 50,626 | 119,774 | 183,500 | 149,027 | |||||||||||||||||
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Ratio of earnings to fixed charges | (1.13 | x) | (14.62 | x) | (30.72 | x) | (4.52 | x) | 3.83 | x | 5.28x |