EXHIBIT 12.1
SYNOVUS FINANCIAL CORP.
RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, | ||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||
Ratio 1 – Including Interest on Deposits | ||||||||||||||
Earnings: | ||||||||||||||
Income (loss) from continuing operations before income taxes | 252,628 | 31,477 | (59,532 | ) | (849,170 | ) | (1,605,908 | ) | ||||||
Fixed charges | 126,379 | 158,224 | 226,987 | 342,674 | 506,873 | |||||||||
Total | 379,007 | 189,701 | 167,455 | (506,496 | ) | (1,099,035 | ) | |||||||
Fixed Charges: | ||||||||||||||
Interest on deposits | 64,392 | 95,749 | 173,885 | 288,327 | 456,247 | |||||||||
Interest on short-term borrowings | 324 | 614 | 1,063 | 1,921 | 3,841 | |||||||||
Interest on long-term debt | 54,106 | 53,659 | 42,654 | 44,000 | 38,791 | |||||||||
Portion of rents representative of the interest factor (1/3) of expense | 7,557 | 8,202 | 9,385 | 8,426 | 7,994 | |||||||||
Preferred stock dividends and accretion | 47,014 | 58,704 | 58,088 | 57,510 | 52,395 | |||||||||
Total fixed charges | 173,393 | 216,928 | 285,075 | 400,184 | 559,268 | |||||||||
Ratio of earnings to fixed charges | 2.19 | x | 0.87 | x | 0.59 | x | nm | nm | ||||||
Ratio 1 – Excluding Interest on Deposits | ||||||||||||||
Earnings: | ||||||||||||||
Income (loss) from continuing operations before income taxes | 252,628 | 31,477 | (59,532 | ) | (849,170 | ) | (1,605,908 | ) | ||||||
Fixed charges excluding preferred stock dividends and accretion | 61,987 | 62,475 | 53,102 | 54,347 | 50,626 | |||||||||
Total | 314,615 | 93,952 | (6,430 | ) | (794,823 | ) | (1,555,282 | ) | ||||||
Fixed Charges: | ||||||||||||||
Interest on short-term borrowings | 324 | 614 | 1,063 | 1,921 | 3,841 | |||||||||
Interest on long-term debt | 54,106 | 53,659 | 42,654 | 44,000 | 38,791 | |||||||||
Portion of rents representative of the interest factor (1/3) of expense | 7,557 | 8,202 | 9,385 | 8,426 | 7,994 | |||||||||
Preferred stock dividends and accretion | 47,014 | 58,704 | 58,088 | 57,510 | 52,395 | |||||||||
Total fixed charges including preferred stock dividends and accretion | 109,001 | 121,179 | 111,190 | 111,857 | 103,021 | |||||||||
Ratio of earnings to fixed charges | 2.89 | x | 0.78 | x | nm | nm | nm |