COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1
Carolina First Corporation and Subsidiaries
($ in thousands)
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, 1999 SEPTEMBER 30, 1999
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EARNINGS:
Income from continuing operations
before income taxes.................................... $ 8,723 $ 29,862
ADD:
(a) Fixed charges......................................... 27,177 78,503
DEDUCT:
(a) Interest capitalized during year...................... -- --
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Earnings, for computation purposes.......................... $ 35,900 $ 108,365
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FIXED CHARGES:
Interest on indebtedness, expensed or capitalized......... $ 26,651 $ 77,354
Portion of rents representative of the interest factor.... 494 1,053
Amortization of debt expense.............................. 32 96
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Fixed charges, for computation purposes..................... $ 27,177 $ 78,503
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RATIO OF EARNINGS TO FIXED CHARGES......................... 1.32X 1.38X