EXHIBIT 12.1
SYNOVUS FINANCIAL CORP.
RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, | |||||||||||||||
(dollars in thousands) | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||
Ratio 1 – Including Interest on Deposits | |||||||||||||||
Earnings: | |||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 358,573 | 302,559 | 252,628 | 31,477 | (59,532 | ) | ||||||||
Fixed charges excluding preferred stock dividends and accretion | 126,355 | 117,001 | 126,379 | 158,224 | 226,987 | ||||||||||
Total | 484,928 | 419,560 | 379,007 | 189,701 | 167,455 | ||||||||||
Fixed Charges: | |||||||||||||||
Interest on deposits | 65,534 | 55,179 | 64,392 | 95,749 | 173,885 | ||||||||||
Interest on short-term borrowings | 168 | 220 | 324 | 614 | 1,063 | ||||||||||
Interest on long-term debt | 52,942 | 54,009 | 54,106 | 53,659 | 42,654 | ||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 7,711 | 7,593 | 7,557 | 8,202 | 9,385 | ||||||||||
Preferred stock dividends and accretion | 10,238 | 10,238 | 40,830 | 58,704 | 58,088 | ||||||||||
Total fixed charges including preferred stock dividends and accretion | $ | 136,593 | 127,239 | 167,209 | 216,928 | 285,075 | |||||||||
Ratio of earnings to fixed charges | 3.55 | x | 3.30 | x | 2.27 | x | 0.87 | x | 0.59 | x | |||||
Ratio 2 – Excluding Interest on Deposits | |||||||||||||||
Earnings: | |||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 358,573 | 302,559 | 252,628 | 31,477 | (59,532 | ) | ||||||||
Fixed charges excluding preferred stock dividends and accretion | 60,821 | 61,822 | 61,987 | 62,475 | 53,102 | ||||||||||
Total | 419,394 | 364,381 | 314,615 | 93,952 | (6,430 | ) | |||||||||
Fixed Charges: | |||||||||||||||
Interest on short-term borrowings | 168 | 220 | 324 | 614 | 1,063 | ||||||||||
Interest on long-term debt | 52,942 | 54,009 | 54,106 | 53,659 | 42,654 | ||||||||||
Portion of rents representative of the interest factor (1/3) of expense | 7,711 | 7,593 | 7,557 | 8,202 | 9,385 | ||||||||||
Preferred stock dividends and accretion | 10,238 | 10,238 | 40,830 | 58,704 | 58,088 | ||||||||||
Total fixed charges including preferred stock dividends and accretion | $ | 71,059 | 72,060 | 102,817 | 121,179 | 111,190 | |||||||||
Ratio of earnings to fixed charges | 5.90 | x | 5.06 | x | 3.06 | x | 0.78 | x | nm |