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) | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||
Ratio 1 - Including interest on deposits | |||||||||||||||||||
Earnings: | |||||||||||||||||||
Income before income taxes, less portion attributable to noncontrolling interest 1 | $2,805 | $2,683 | $2,697 | $2,267 | $1,666 | ||||||||||||||
Fixed charges | 840 | 643 | 588 | 633 | 626 | ||||||||||||||
Total earnings | $3,645 | $3,326 | $3,285 | $2,900 | $2,292 | ||||||||||||||
Fixed charges: | |||||||||||||||||||
Interest on deposits | $404 | $259 | $219 | $235 | $291 | ||||||||||||||
Interest on funds purchased and securities sold under agreements to repurchase | 28 | 11 | 5 | 4 | 4 | ||||||||||||||
Interest on other short-term borrowings | 8 | 3 | 3 | 14 | 13 | ||||||||||||||
Interest on trading liabilities | 26 | 24 | 22 | 21 | 17 | ||||||||||||||
Interest on long-term debt | 288 | 260 | 252 | 270 | 210 | ||||||||||||||
Portion of rents representative of the interest factor of rental expense | 86 | 86 | 87 | 89 | 91 | ||||||||||||||
Total fixed charges | 840 | 643 | 588 | 633 | 626 | ||||||||||||||
Preferred stock dividend requirements | 116 | 94 | 90 | 53 | 46 | ||||||||||||||
Fixed charges and preferred stock dividends | $956 | $737 | $678 | $686 | $672 | ||||||||||||||
Ratio of earnings to fixed charges | 4.34x | 5.17x | 5.59x | 4.58x | 3.66x | ||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | 3.81x | 4.51x | 4.85x | 4.23x | 3.41x | ||||||||||||||
Ratio 2 - Excluding interest on deposits | |||||||||||||||||||
Earnings, excluding interest on deposits: | |||||||||||||||||||
Income before income taxes, less portion attributable to noncontrolling interest 1 | $2,805 | $2,683 | $2,697 | $2,267 | $1,666 | ||||||||||||||
Fixed charges, excluding interest on deposits | 436 | 384 | 369 | 398 | 335 | ||||||||||||||
Total earnings, excluding interest on deposits | $3,241 | $3,067 | $3,066 | $2,665 | $2,001 | ||||||||||||||
Fixed charges, excluding interest on deposits: | |||||||||||||||||||
Interest on funds purchased and securities sold under agreements to repurchase | $28 | $11 | $5 | $4 | $4 | ||||||||||||||
Interest on other short-term borrowings | 8 | 3 | 3 | 14 | 13 | ||||||||||||||
Interest on trading liabilities | 26 | 24 | 22 | 21 | 17 | ||||||||||||||
Interest on long-term debt | 288 | 260 | 252 | 270 | 210 | ||||||||||||||
Portion of rents representative of the interest factor of rental expense | 86 | 86 | 87 | 89 | 91 | ||||||||||||||
Total fixed charges, excluding interest on deposits | 436 | 384 | 369 | 398 | 335 | ||||||||||||||
Preferred stock dividend requirements | 116 | 94 | 90 | 53 | 46 | ||||||||||||||
Fixed charges, excluding interest on deposits, and preferred stock dividends | $552 | $478 | $459 | $451 | $381 | ||||||||||||||
Ratio of earnings to fixed charges, excluding interest on deposits | 7.44x | 7.99x | 8.31x | 6.70x | 5.97x | ||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends, excluding interest on deposits | 5.88x | 6.42x | 6.68x | 5.91x | 5.25x |
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 Other noninterest expense, and therefore, for comparative purposes, $49 million of amortization expense was reclassified to Provision for income taxes for the year ended December 31, 2013.