Exhibit 12.1
SunTrust Banks, Inc. Ratio of Earnings to Fixed Charges and Preferred Stock Dividends | |||||||||||||||||||
| For the Year Ended December 31 | |||||||||||||||||||
| (Dollars in millions) | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||
| Ratio 1 - Including interest on deposits | |||||||||||||||||||
| Earnings: | |||||||||||||||||||
Income before income taxes 1 | $2,683 | $2,697 | $2,267 | $1,666 | $2,770 | ||||||||||||||
| Fixed charges | 643 | 588 | 633 | 626 | 849 | ||||||||||||||
| Total earnings | $3,326 | $3,285 | $2,900 | $2,292 | $3,619 | ||||||||||||||
| Fixed charges: | |||||||||||||||||||
| Interest on deposits | $259 | $219 | $235 | $291 | $429 | ||||||||||||||
| Interest on funds purchased and securities sold under agreements to repurchase | 11 | 5 | 4 | 4 | 4 | ||||||||||||||
| Interest on other short-term borrowings | 3 | 3 | 14 | 13 | 18 | ||||||||||||||
| Interest on trading liabilities | 24 | 22 | 21 | 17 | 15 | ||||||||||||||
| Interest on long-term debt | 260 | 252 | 270 | 210 | 299 | ||||||||||||||
| Portion of rents representative of the interest factor of rental expense | 86 | 87 | 89 | 91 | 84 | ||||||||||||||
| Total fixed charges | 643 | 588 | 633 | 626 | 849 | ||||||||||||||
| Preferred stock dividend requirements | 94 | 90 | 53 | 46 | 17 | ||||||||||||||
| Fixed charges and preferred stock dividends | $737 | $678 | $686 | $672 | $866 | ||||||||||||||
| Ratio of earnings to fixed charges | 5.17x | 5.59x | 4.58x | 3.66x | 4.26x | ||||||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends | 4.51x | 4.85x | 4.23x | 3.41x | 4.18x | ||||||||||||||
| Ratio 2 - Excluding interest on deposits | |||||||||||||||||||
| Earnings: | |||||||||||||||||||
Income before income taxes 1 | $2,683 | $2,697 | $2,267 | $1,666 | $2,770 | ||||||||||||||
| Fixed charges | 384 | 369 | 398 | 335 | 420 | ||||||||||||||
| Total earnings | $3,067 | $3,066 | $2,665 | $2,001 | $3,190 | ||||||||||||||
| Fixed charges: | |||||||||||||||||||
| Interest on funds purchased and securities sold under agreements to repurchase | $11 | $5 | $4 | $4 | $4 | ||||||||||||||
| Interest on other short-term borrowings | 3 | 3 | 14 | 13 | 18 | ||||||||||||||
| Interest on trading liabilities | 24 | 22 | 21 | 17 | 15 | ||||||||||||||
| Interest on long-term debt | 260 | 252 | 270 | 210 | 299 | ||||||||||||||
| Portion of rents representative of the interest factor of rental expense | 86 | 87 | 89 | 91 | 84 | ||||||||||||||
| Total fixed charges | 384 | 369 | 398 | 335 | 420 | ||||||||||||||
| Preferred stock dividend requirements | 94 | 90 | 53 | 46 | 17 | ||||||||||||||
| Fixed charges and preferred stock dividends | $478 | $459 | $451 | $381 | $437 | ||||||||||||||
| Ratio of earnings to fixed charges | 7.99x | 8.31x | 6.70x | 5.97x | 7.60x | ||||||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends | 6.42x | 6.68x | 5.91x | 5.25x | 7.30x | ||||||||||||||
1 Amortization expense related to qualified affordable housing investment costs is recognized in provision for income taxes for all periods presented as allowed by an accounting standard adopted in 2014. Prior to 2014, these amounts were recognized in noninterest expense, and therefore, for comparative purposes, $49 million and $39 million of amortization expense was reclassified to provision for income taxes for the years ended December 31, 2013 and 2012, respectively.